During the period from July to September 2011 revenues reached £214.4m, up on the second quarter revenues of £208.9m, which represented a 1.2% drop on quarter one.
Despite this one setback, six out of the last seven quarters have now recorded positive growth.
Mike Baker, chief executive of the Outdoor Media Centre, said: "It's good to be back in positive territory again.
"We are seeing numerous advertisers returning after a period of hiatus, and also more advertisers spending more in outdoor. For example 140 advertisers now spend more than a million in the medium, five more than last year."
The 10 biggest outdoor advertisers this quarter were BSkyB, McDonalds, Kellogg's, Coca-Cola, Everything Everywhere, Entertainment Films, Kentucky Fried Chicken, O2, 20th Century Fox, and Vodafone.
Categories that spent more in the third quarter of i2011 compared to 2010 included entertainment, telecoms, motors, retail, government, clothing and business and industrial.
Digital out-of-home revenues were up 29% to £30.6m for the quarter, which the OMC said reflected "new investment in digital and the conversion of traditional sites to digital in rail, airport, subway and retail environments."
Digital now makes up 14.3% of all outdoor revenue, and more than half the OMC members now offer digital screens as part of their portfolio.
Transport (chiefly subway, rail and airport) made up 50% of digital revenues, while roadside (typically large format LED billboards and spectaculars) achieved 28%, and the retail and leisure sector (including malls, gyms and other venues) took 22%.
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