OUTFRONT Media Announces Sale Of Sports Marketing Business

NEW YORK, Sept. 17, 2020 /PRNewswire/ — OUTFRONT Media Inc. (OUT) announced today that it has completed the sale of its Sports Marketing operating segment to Playfly Sports (Playfly,LLC). The Sports Marketing operating segment is the marketing and multimedia rights holder for a variety of colleges, universities and other educational institutions across the United States.

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About OUTFRONT Media Inc.
OUTFRONT leverages the power of technology, location and creativity to connect brands with consumers outside of their homes through one of the largest and most diverse sets of billboard, transit, and mobile assets in North America. Through its technology platform, OUTFRONT will fundamentally change the ways advertisers engage audiences on-the-go.

Insiders Take:  Couple of items to note along with this press release.

Reported revenues of $19.4 million decreased $20.9 million, or 51.9%, due to a decline in Canada and a decline in our Sports Marketing operating segment, both related to the impact of COVID-19 on customer advertising expenditures and overall demand for our services, as well as the cancellation of spring sports at colleges and universities. Organic revenues decreased $20.1 million, or 50.9%.

  • Also, along with Outfront’s press release Playfly Sports separately announced the same day that it has acquired two esports assets, the Collegiate StarLeague and WorldGaming Network from the Canada-based cinema chain Cineplex. The combined group is to be called Playfly Sports Properties. In combination with college and high school multi-media rights managing company OUTFRONT Media Sports, the company’s esports division will “concentrate on enhancing the amateur esports-athlete experience and increasing opportunities for participation on high school and college campuses nationwide.”

 

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