Company: Pearl Media
Headquarters: 151 Forest St, Suite J, Montclair, NJ 07402
Phone: 973-492-2300
Email: info@pearlmedia.com
Pearl Media is an award-winning Out-of-Home company headquartered in Northern New Jersey with offices in Miami, Los Angeles and San Francisco. In February 2022 Pearl sold 10 high profile displays to New Tradition. In April 2022 Pearl acquired Lure Outdoor. Seaport Capital is one of the company’s backers. Billboard Insider talked with Josh Cohen, the company’s Founder and President
How did you enter the out of home business?
During the real estate crash in 2006 and 2007, it became apparent that retail would be dramatically impacted. As the industry entered a period of great struggle and the number of closures was significant, I identified a silver lining and an opening to re-imagine the Out-of-Home space. Using vacant retail storefronts, I created a canvas for brands to bring the billboard to ground level, benefiting landlords/property groups, brands and consumers alike. Additionally, this approach overcame the steep financial barrier that comes with entering the Out-of-Home market, as there was little to no upfront investment. As I continued this journey, I began applying emerging interactive technologies in digital, mobile and social media within the windows storefront billboards, thus allowing brands to engage consumers in unique conversations they previously couldn’t have. This marriage of real estate and technology grew to be the backbone of Pearl Media, and they’re still the core competencies of the company today.
What’s new at Pearl?
We have completely transformed our business with selling off some assets in certain markets early in the year and then making a big acquisition of LURE outdoor at the beginning of Q2. This provided us with 120+ assets in NY, Brooklyn, and Chicago, which when added to our organic growth, makes us now one of the preeminent leaders of eye-level OOH in the country. We also continue to build out our Digital Network business (400+ screens) that live in urban mixed-use venues in top cites around the country including NYC, Nashville, Miami, San Francisco and more.
Tell us more about integrating Lure Outdoor
It could not have gone any better. Not only did we get amazing assets, but we got great people who all are on board with what we are trying to do and have become part of the Pearl Family. We brought everyone over and everyone is still here, working hard and were having fun doing it. The LURE assets have exceeded our expectations and have been a great compliment to our existing business. We are excited about building onto this foundation of amazing assets and people in the near future.
Have you seen signs the economy is slowing?
There is an overwhelming feeling that something might be happening but to be honest we have not seen it yet. Our mantra is that we can only control what we can control and to keep pushing forward. We remain cautiously optimistic as business continues to be very healthy, we are seeing brands still spending sizable budgets for Q4 and into 2023.
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