Most of you have Cracker Barrel as a tenant on one of your billboards.  Cracker Barrel’s 2023 10k says this: “Outdoor advertising (i.e., billboards and state department of transportation signs) is the largest advertising vehicle we use to reach our traveling and local guests.”  Billboard Insider has prepared an analysis of Cracker Barrel’s out of home spending for the past five fiscal years.  We calculated Cracker Barrel’s billboard spend by multiplying the % of the ad budget spent on billboards by the total Cracker Barrel ad budget.

Cracker Barrel and Out of Home 2019-2023

• Cracker Barrel is currently on 1,400 billboards, down from 1,600 billboards five years ago.
• 83% of the company’s billboards are on interstates.
• Cracker Barrel spends approximately $30 million a year or one-third of its $90 million ad budget on billboards.  Looks like this works out to $1,785/month per billboard.
• Billboard Insider’s affiliated Circle City Outdoor has done business with Cracker Barrel.  The company likes simple directional keeps good locations (close to the exit for a store) forever.  See picture above.
• The total number of Cracker Barrel stores declined slightly from fiscal 2022 to fiscal 2023..  Most of the company’s stores in in the Eastern US.  In 2018, Cracker Barrel opened stores in Oregon, Nevada and California – an opportunity for Western out of home companies if the trend continues.  Look at this chart from the Cracker Barrel January 2023 investor presentation.

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 Ad