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The number of people who see a billboards depends on the amount of traffic that passes a billboard each day. Therefore the number will be different based on what road it is located on.
The way this is calculated in the Advertising industry is by DEC (daily effective circulation). The DEC # is the number of cars that pass by each day x 1.38 (amount of people 18+ in car).
The higher the DEC the more people who see the billboard. The DEC is often shown in only 3 places ie. DEC= 54,000 often shown as DEC= 54
This article may help:
http://jerseyoutdoor.blogspot.com/2010/11/how-much-do-billboards-cost.html
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