Moorgate Capital Partners produces an outstanding quarterly report on the out of home advertising industry.  Here are some charts from the report which caught Billboard Insider’s eye.

Public Company M&A Activity is down.

Lamar, OUTFRONT and Clear Channel Outdoor have done only $45 million in acquisitions during the first half of 2024, down from $81 million in acquisitions the first half of 2023 and $508 million in the first half of 2022.

Place based and and street furniture revenues are lagging

For the trailing 12 months ended June 2024, Billboard revenues are 17% above 2019 pre-covid levels, transit revenues are 5% below pre-covid levels, street furniture is 13% below 2019 pre-covid and place-based is 40% off from pre-covid levels.  Place-based difficulties are primarily caused by very weak cinema advertising.

To obtain a copy of Moorgate’s 4Q 2023 OOH report contact Jeff Seddon, Director, Moorgate Capital Partners, jeff.seddon@moorgatepartners.com, 609-276-2508