Metropolitan Transportation Authority (MTA) Awards Clear Channel Outdoor a 15-Year Deal to Reimagine and Grow Revenue Across One of the Nation's Largest Roadside Collections of Out-of-Home Advertising Displays
Clear Channel Outdoor (NYSE: CCO) has been awarded a 15-year contract by the Metropolitan Transportation Authority (MTA) to manage over 250 roadside Out-of-Home advertising displays in the NY/NJ/CT Metro area, effective Nov. 1, 2024.
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Rhea-AI Summary
Clear Channel Outdoor (NYSE: CCO) has been awarded a 15-year contract by the Metropolitan Transportation Authority (MTA) to manage over 250 roadside Out-of-Home advertising displays in the NY/NJ/CT Metro area, effective Nov. 1, 2024. The deal significantly expands CCO's presence in the nation's largest media market, complementing their existing inventory at PANYNJ airports and Times Square. The contract covers major roadways including the Long Island Expressway, Brooklyn Queens Expressway, Major Deegan Expressway, and West Side Highway, offering brands a comprehensive solution to reach local residents and tourists through CCO's RADAR data analytics platform.
Positive
- Secured exclusive 15-year contract with MTA for 250+ advertising displays
- Expanded market presence in the #1 US media market (NY/NJ/CT Metro)
- Strategic integration with existing Times Square and PANYNJ airport advertising assets
- Enhanced revenue potential through comprehensive regional coverage
Negative
- None.
Details
News Market Reaction – CCO
The recorded move for CCO in the trading session of this news was +0.61%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
Exclusive Media Contract Includes 250+ Displays in the Greater NY, NJ, CT Metro Area, Gives Brands a First-Ever One-Stop Shop to Reach Residents and Tourists as they Drive, Walk or Fly in the Region
Importantly, for local and national brands looking to reach coveted residents and visitors throughout the region, this move adds to CCO's already sought-after collection of NY/NJ area OOH displays which includes all ad signage at Port Authority of
"This expansion to Clear Channel Outdoor's NY portfolio gives us a new foothold as one of the OOH leaders in the number one media market in the world and gives our sales team an even more attractive story to tell from a national standpoint, given our improved ability to enhance the offerings we are able to provide in the nation's largest media market," said Bob McCuin, chief revenue officer, Clear Channel Outdoor. "We look forward to working with our new partners at the MTA, as well as with the communities we'll touch, to bring brands and their desired consumers together through the power of advertising."
This new contract substantially expands CCO's reach in the
CCO's iconic inventory throughout the metro area, along with its first to market RADAR data analytics solutions, helps brands effectively plan, amplify, and measure the impact of their OOH advertising. This new deal with the MTA presents an innovative opportunity for local and national brands to efficiently reach their customers from the moment they arrive at any of the NYC area airports, as they drive to their local destinations throughout the greater metropolitan area, and walk through their neighborhoods, including the bustling Times Square region.
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is at the forefront of driving innovation in the out-of-home advertising industry. Our dynamic advertising platform is broadening the pool of advertisers using our medium through the expansion of digital billboards and displays and the integration of data analytics and programmatic capabilities that deliver measurable campaigns that are simpler to buy. By leveraging the scale, reach and flexibility of our diverse portfolio of assets, we connect advertisers with millions of consumers every month.
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SOURCE Clear Channel Outdoor
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