Here are Billboard Insider’s top 5 out of home stories for 2019.
Mr Falzone Learns How To Conduct Business in Louisiana
In April 2019 Scenic America President Mark Falzone said unflattering things about Lamar while testifying on an anti-billboard bill before the Louisiana legislature. Lamar CEO Sean Reilly, a former state legislator and member of a number of Louisiana state boards and commissions, followed Falzone and said this: “So, you know, there’s a lobbyist who came down from Washington and who referred to me as a greedy, selfish hog. Called my product ‘litter on a stick.’ That’s just not how we conduct business here in Louisiana.” The anti-billboard proposal was voted down in committee 14-3.
Anna Bager named President and CEO of the OAAA.
In July 2019 the OAAA named mobile and interactive advertising exec Anna Bager as its new President and CEO. Bager explained her vision for the OAAA at the Digital DOOH Investor conference: “We do policy making. We keep the lights on and keep the industry safe…We are a big tent…We represent the whole ecosystem. It’s in the power of the pack. It’s all of us working together…We’re promoting the industry. We’re protecting the industry…We’re helping people to buy and sell…That’s what the OAAA stands for.”
Clear Channel Outdoor Gets Freedom
On May 1, 2019 Clear Channel Outdoor separated from iHeartMedia to become in independent company with its own board of directors. Debt/Cashflow is a high 9.7:1.0 and Clear Channel’s stock is down 45% since May but freedom is a great thing. iHeart was a parasite. In nine years of ownership iHeartMedia doubled Clear Channel Outdoor debt and sucked $7.6 billion in dividends and transfers from Clear Channel Outdoor while permitting Clear Channel Outdoor to invest only $2 billion in capital expenditures. With a parent like that who needs enemies.
The Thomas Case
A Reed v Gilbert challenge to Tennessee’s Highway Beautification Rules threatens the existing federal and state billboard rules which provide predictability and just compensation to billboard companies. A local judge voided Tennessee’s HWBA rules and an appeals court upheld the ruling. A legislative fix is expected when the Tennessee legislature reconvenes in January 2020.
Out of home goes GDP plus
US out of home revenues grew 1.6 times faster than the US economy during the 2019 after trailing the US economy in 2017 and 2018. More digital faces and the shift of ad spending from other forms of media helped.
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