PJ Solomon issued its 2020 advertising trends reports yesterday.  Here’s a page from the report summarizing 2020 forecasts for out of home.  Industry revenues will be down 15-20% in 2020.  OUTFRONT and Clear Channel Outdoor will be hit harder than Lamar because they have more concentration in international, urban, transit and airport plants.

PJ Solomon is bullish in out of home long term because it is the only classic media channel which reaches a large audience and can’t be blocked.

Insider’s take:  Clear Channel Outdoor revenues expected to decline more than OUTFRONT or JCDecaux during 2020.  That explains why Clear Channel stock is down 70% year to date.  OUTFRONT is down 47% year to date.  Lamar is down 24% year to date.

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