At last week’s JP Morgan Conference an analyst asked Lamar CEO Sean Reilly about pricing and Reilly suggested it’s getting harder to raise rates.
So this time last year, we were getting double digits that’s not happening anymore. Part of it is because our local customers are saying, “Well, wait, wait, wait, wait. You all got me last year and inflation is coming down.” So if you go back to ’21, we were pro forma up double digits. Last year, we were pro forma up 10. ’21 was a little bit odd because it was also a recovery year, right? So it’s not true apples-to-apples. But I would argue that most of last year truly was real rate driven, right? And it’s just hard to have those discussions every year when that’s not where inflation is anymore.
Are you getting rate increases this year as you renew contracts? Email davewestburg@billboardinsider.com or take the poll below. We’ll run a followup post later this week with the results.
This poll is no longer accepting votes
To receive a free morning newsletter with each day’s Billboard insider articles email info@billboardinsider.com with the word “Subscribe” in the title. Our newsletter is free and we don’t sell our subscriber list.
Paid Advertisement
