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Q3 Reports Infographics

Q3 Reports Infographics

2023 3rd Quarter Results For Lamar Advertising, Outfront Media, and Clear Channel Outdoor.

Elevate your OOH Industry IQ: Unveil the results of the OOH industry leaders: Lamar Advertising, Clear Channel Outdoor, and Outfront Media in SignValue’s latest Quarterly Infographics! Embark on a visual journey with our three captivating infographics, spotlighting pivotal takeaways from the 3rd quarter earnings reports. Gain exclusive insights into the performance of industry titans and let SignValue be your compass to navigate the intricacies of the market with finesse, SignValue CEO Paul Wright shares his insights on the recent financial releases: 

“It’s clear from third quarter results that OOH revenue growth continues to slow. No one knows whether this will be a soft landing or something more dramatic. We think of a soft landing like the 2001/2002 recession when OOH revenues were down .8% and then up .8%, which was essentially two flat years. It’s worth noting that was over 20 years ago. Obviously, we’ve survived two far more dramatic recessions since then, including the housing crisis in 2008/2009 (down 15.6%) and the covid pandemic in 2020/2021 (down 29.1%). Several of our bank clients are asking us to take a second look at some of their collateral. OOH companies should not be surprised if their banks are asking for more information than usual. Being open and honest with your bank will lead to better relationships, trust and terms, so we encourage borrowers to be completely transparent about any changes in their performance.”

Clear Channel Outdoor is lighting up the Las Vegas skyline with their latest collaboration with the Westin Las Vegas Hotel & Spa!

Clear Channel Outdoor's New Out-of-Home Spectaculars Illuminate Las Vegas Skyline

Clear Channel Outdoor (NYSE: CCO), a global leader in out-of-home (OOH) media, has just unveiled a new collaboration with the Westin Las Vegas Hotel & Spa. This partnership introduces three large OOH spectaculars strategically positioned along the Formula 1 Vegas Grand Prix track, offering advertisers an opportunity to reach Las Vegas tourists, affluent audiences, and international travelers.

The Formula 1 Fan Experience will run from November 16-18, 2023 with over 300,000 attendees expected to attend the three-day event.

The Clear Channel portfolio includes digital spectaculars, printed spectaculars and wallscapes, roadside digital displays, airport advertising, and traditional printed assets reaching 92% of adults aged 18 and above weekly, as per Geopath OOH Ratings (June 2021) and Scarborough Release 1 (2022).

The ‘Westin Spectacular Domination’ package includes digital signage options as follows:

  • The Vertical Digital Spectacular (46′ high x 18′ wide)
  • South Wallscape Spectacular (130′ high x 200′ wide x 2)
  • East Wallscape Spectacular (130′ high x 50′ wide)
East Wallscape Spectacular
Brands can captivate sophisticated consumers with these new jaw dropping displays at the Westin Las Vegas Hotel.
These transformative new displays are located along F1 Vegas Grand Prix Track.
The Vertical Digital Spectacular

Programmatic DOOH on the Rise: Insights from VIOOH’s Latest Report

We are excited to share the latest findings from VIOOH’s annual research into the programmatic Digital Out of Home (DOOH) market. The future of programmatic DOOH (prDOOH) is undoubtedly on the rise, and the insights from this report shed light on its growing popularity, particularly in the United States.

Key Highlights:

  1. Impressive Growth: According to the report, DOOH ad spending is projected to increase by an impressive 33% over the next 18 months. This growth signifies a big shift in advertising strategies toward the dynamic world of prDOOH.
  2. Media Plan Integration: Nearly one-third (31%) of US advertisers have already incorporated prDOOH into their media plans, with an even more substantial number (39%) planning to increase their usage of prDOOH in the next 18 months.
  3. Budget Reallocation: A substantial portion of US advertisers (33%) is reallocating budgets from other digital channels to invest in prDOOH. Additionally, 15% are creating new budgets dedicated to prDOOH initiatives.
  4. Innovation and Targeted Activations: A remarkable 80% of US respondents believe that prDOOH offers the most innovative opportunities compared to other media channels. Moreover, 67% of advertisers agree that prDOOH effectively targets the right audience at the right time, leading to increased sales, improved performance (64%), and enhanced brand safety (61%).
  5. Multi-Channel Integration: PrDOOH is now more closely integrated into multi-channel campaigns (64%) in the US, especially when combined with other digital channels (41%).

VIOOH’s Chief Executive Officer, Jean-Christophe Conti, emphasized the importance of prDOOH in modern media planning, stating, “Programmatic DOOH is becoming mainstream and is now a must-have on every media plan.” He also highlighted the flexibility and high-value tools that prDOOH provides for both brand and performance ad campaigns.

To dive deeper into these insights and understand the current state of programmatic DOOH advertising, we encourage you to explore the full report by visiting VIOOH’s State of the Nation Report.

VIOOH partnered with research and strategy agency, MTM, to survey 1,200 advertisers and agencies across multiple countries to compile this invaluable data. These participants, who have already embraced prDOOH or plan to do so in the near future, offer a real-world perspective on the transformative impact of programmatic DOOH advertising.

As the advertising landscape continues to evolve, programmatic DOOH has proven to be a game-changer for marketers seeking innovative and effective ways to engage their target audience. Stay ahead of the curve by exploring the insights in this report and considering how prDOOH can enhance your advertising strategies.

Hypermedia Launches René, a Digital Bridge that Redefines Out-of-Home Advertising.

Hypermedia Launches René, a Digital Bridge that Redefines Out-of-Home Advertising.

Hypermedia Launches René, a Digital Bridge that Redefines Out-of-Home Advertising.

Hypermedia, a leading provider of Out-of-Home (OOH) media solutions in the Middle East, has announced the launch of René, a digital bridge that is set to redefine the OOH advertising landscape.

René is located at the World Trade Center, one of the busiest intersections in Dubai, and is perfectly positioned to reach a large and diverse audience. The bridge is 30 meters long and 3.5 meters wide, and it features a high-resolution LED screen that can display dynamic and interactive content.

In addition to its strategic location, René offers a number of other advantages for advertisers. For example, the bridge is equipped with data measurement and analytics tools that can help advertisers track the performance of their campaigns and optimize their results.

René is also part of Hypermedia’s “Z Gallery – Art of Media” collection, which is a network of over 550 digital and static assets that are designed to provide brands with a premium media experience. The collection is inspired by the iconic artwork of René Magritte, and it aims to challenge traditional perceptions and encourage viewers to see beyond the obvious.

“René represents a significant milestone in our mission to redefine digital Out-Of-Home advertising,” said Gerard Rustom, Managing Director/CRO at Hypermedia. “We believe that by fusing art, technology, and strategic placement, we can offer brands an unparalleled opportunity to captivate audiences and achieve remarkable measurable results.”

Here are some of the key benefits of René:

🔴 Strategically located at a major intersection in Dubai

🟠 Large and visible LED screen

🟡 Data measurement and analytics tools

🔵 Part of the “Z Gallery – Art of Media” collection

René is the perfect platform for brands that want to reach a large and diverse audience, track the performance of their campaigns, and create a lasting impact.

Comparing Results from Second Quarter 2023: Lamar Advertising, Outfront Media, and Clear Channel Outdoor

Comparing Results from Second Quarter 2023: Lamar Advertising, Outfront Media, and Clear Channel Outdoor

 Three major players in the outdoor advertising sector – Lamar Advertising, Outfront Media, and Clear Channel Outdoor – recently released their second-quarter 2023 results, offering insights into their performance and strategies in an evolving market.

Lamar Advertising: A Strong Recovery

Lamar Advertising’s Q2 2023 results paint a picture of resilience and growth. The company reported a 4.5% increase in net revenues, climbing from $517.9 million in Q2 2022 to $541.1 million in Q2 2023. This increase can be attributed to the rebound of the advertising market and the strong demand for its digital and transit advertising products.

The company’s operating income also exhibited positive growth, rising by $10.3 million from Q2 2022 to Q2 2023. This improvement, with operating income reaching $176.8 million in Q2 2023, indicates effective cost management and operational efficiency alongside revenue growth.

Lamar Advertising’s success can be partially attributed to its strategic focus on digital and transit advertising products, which align with changing consumer behaviors and advertisers’ preferences for targeted and engaging ad formats. The second quarter’s results suggest that Lamar’s adaptability and product diversification have positioned it well to thrive in the evolving advertising landscape.

Outfront Media: Driving Growth through Diversification

Outfront Media also reported encouraging results for the second quarter of 2023. The company’s revenues increased by 4.1%, from $450.2 million in Q2 2022 to $468.8 million in Q2 2023. This growth was fueled by higher billboard yields and gains from both local and national business segments. Although transit revenues increased by a modest 1%, the overall performance indicates a balanced portfolio contributing to Outfront Media’s success.

A notable aspect of Outfront Media’s Q2 report is the declaration of a quarterly dividend of $0.30 per share, payable in September 2023. This gesture reflects the company’s confidence in its financial position and future prospects. The dividend announcement adds a layer of attractiveness for investors interested in consistent returns.

Outfront CFO Matt Siegel was at the Oppenheimer 26th Annual Tech Internet and Communications conference last week and had this to say about a recent $511Million writedown on their transit business, “Our portfolio was greatly impacted…first during the pandemic and post pandemic as people have changed their commuting and traveling habits ridership…in all of our transit franchises is down…more than 50% in San Francisco…down 30% like New York…in the first quarter of this year transit the growth of transit stalled…we didn’t think it was a cause for concern…then we came into the second quarter and we see transit still flat and our forecasting our pacing for the rest of the year isn’t very robust… we took a write down, an impairment charge a little over $500 million to our transit business…we also felt the need to change our full year guidance….

Clear Channel Outdoor: Navigating Challenges and Opportunities

Clear Channel Outdoor’s Q2 2023 results reveal a more complex narrative. While the company experienced a slight decrease in overall revenues, dropping from $641.5 million in Q2 2022 to $637.2 million in Q2 2023, this decline was primarily attributed to factors such as foreign exchange rates and the sale of its operations in Italy and Spain.

The company’s America’s division, however, showcased growth of 1%, signifying stability and potential in its core market. Importantly, Clear Channel Outdoor reported a significant reduction in net loss, decreasing from $65.8 million in Q2 2022 to $36.6 million in Q2 2023. This reduction in loss indicates effective cost containment and strategic adjustments that contributed to improved profitability.

Clear Channel Outdoor’s announcement of exclusive discussions to sell its business in France and ongoing evaluation of strategic alternatives for its European operations underscores the company’s proactive approach to addressing challenges and capitalizing on opportunities. By streamlining operations and focusing on core markets, Clear Channel Outdoor aims to enhance its competitiveness and financial health.

The second-quarter 2023 results of Lamar Advertising, Outfront Media, and Clear Channel Outdoor reflect a mix of growth trajectories, highlighting the nuances of the advertising industry, but a general slowdown in revenue growth. Lamar Advertising’s modest revenue growth, Outfront Media’s transit struggles, and Clear Channel Outdoor’s strategic adjustments underscore the diverse approaches these companies are employing to navigate an evolving market. As the advertising landscape continues to transform, the success of these companies lies in their ability to adapt, innovate, and align with changing advertiser demands and consumer behaviors.