The best way to measure your out of home company’s efficiency is by its cash flow margin (e.g. EBIDTA/Revenues). EBIDTA is earnings before interest, depreciation, income taxes and amortization. It represents what you’ve generated in cash from operations before you pay the bank or shareholders. You add back non-cash charges […]
Here’s a listing of the members of the non-executive Board of Directors for OUTFRONT, Clear Channel and Lamar. Five observations: In a pattern which mimics exec pay, OUTFRONT pays board members more than Lamar. Can someone explain why? One could make the case that Lamar board members deserve the […]
Here’s Billboard Insider’s list of who makes what at the public out of home companies. We computed the list based on total compensation in each company’s 2022 14A proxy statement. Three observations: Everyone except Reilly and Wells is down All the execs except Sean Reilly and Scott Wells had pay […]
Seeking Alpha has published a report by Brad Thomas titled Who’s Betting on Billboards. Thomas is a good analyst but he gets this wrong. “…because billboard REITS are essentially in the advertising business, there are erratic capexp requirements” Out of capital spending is not erratic. It is predictable and can […]
Two US out of home stocks were up and one US out of home stock was down in the first quarter of 2023. Clear Channel Outdoor rose 14% on news of the Switzerland sale. You’ll notice that Clear Channel Outdoor fluctuated wildly during the 1st quarter. It has extremely high […]
Honoring out of home excellence in cities large and small WASHINGTON, D.C. – March 29, 2023 – The Out of Home Advertising Association of America (OAAA) and Geopath announced the winners of the 8th Annual Local Case Study Awards at the 2023 OAAA/Geopath OOH Media Conference in Nashville, TN, this […]
Baton Rouge, LA – March 7, 2023 – Lamar Advertising, one of the largest outdoor advertising companies in the world, today announced it has selected Make-A-Wish as its In-Kind Partner for 2023. Throughout the upcoming year, Lamar will donate more than a million dollars in Digital Out of Home media […]
Hoya Capital published a decent out of home review titled Billboard Reits: We’re Paying Attention (Lamar Vs Outfront). Forward a copy to your banker. The article explains how out of home works and summarizes industry strengths (e.g. regulatory barriers to entry, digital billboard upside, attractive CPM versus other media, low […]
Baton Rouge, LA – February 8, 2023 – In celebration of Black History Month, Lamar Advertising, a leader in outdoor advertising, and Lamar’s Colossal Media division have teamed up with Black Artists + Designers Guild (BADG) to create a hand-painted mural on a wallscape in Brooklyn that will celebrate the […]
This slide from the recent Solomon Partners Media and Entertainment Summit Presentation caught Billboard Insider’s eye. It shows that public out of home companies are trading at a 9-14 times current cashflow (2022 EBIDTA). Billboard Insider’s take: Lamar has the highest valuation multiple because it has the longest weighted […]
