Here is a selection of OUTFRONT CEO Nic Brien’s comments at last week’s Wells Fargo TMT conference, sponsored and analyzed by SignValue.
What do ad agencies think of out of home?
I think the large agencies have had a kind of love-hate relationship with the out of home medium in the sense that it has always been a scale awareness builder and it has always had the opportunity for creative impact at the same time agencies are looking for the efficiencies of the way that they operate. This is a complex medium to buy. You have to piece it all together the measurement has been lacking overall it doesn’t aggregate in with industry standards and there’s not been one obvious place to go…this medium has in a way handicapped itself by not organizing itself to be a much more user friendly medium for both clients and agencie
Can US out of home get more than 2-3% of ad spend?
If I look at other markets…I look at Germany at 9%, France for 7%. Australia’s increasing – it’s now up to over 6%. The UK is increasing…They collaborate well. They don’t compete with one another. They’ve got the measurements sorted out and they are very focused on all things digital…The other issue here is not just revenue share. The CPM’s of out of home are the lowest of any medium. Why? It’s an amazing medium…It has a scale. It has a reach that is unparalleled. It has influence and it has the trust level…
OUTFRONT’S emphasis is on efficiency and digital conversions, not M&A
I was very clear with the board when I came in that my principal focus was not on M&A but the business…running the best business we can…and being…thoughtful about which boards to digitize…M&A, we’re always going to be open to conversations and…we’ll have ears listening but is it an area that strategically we’re not focusing on now.
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