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Clear Channel Outdoor Holdings, Inc. reports developments in out-of-home advertising across printed and digital displays, roadside billboards, street furniture and airport media. The company sells advertising placements through a portfolio that includes U.S. roadside assets, airport displays and other markets, with recurring updates tied to digital billboard expansion, data analytics, programmatic buying and campaign measurement.
Company news also covers airport advertising contracts, brand and content partnerships for digital screen networks, research on creative quality and campaign performance, operating and financial results, shareholder matters and capital-structure actions.
Clear Channel Outdoor Holdings (NYSE: CCO) announced the release date for its 2024 second quarter financial results. The company will publish its earnings report before the market opens on August 7, 2024, at 7:00 a.m. Eastern Time, followed by a conference call at 8:30 a.m. Eastern Time to discuss the results. Investors can dial in at 866-424-3432 (U.S.) or +1 215-268-9862 (international). A live audio webcast and replay will be available on the company's website. Additionally, related earnings materials, including reconciliations of non-GAAP to GAAP financial measures, will be accessible on the website.
The Ad Council and Project Yellow Light have announced the winners of their 2024 scholarship competition, which encourages students to create PSAs on the dangers of distracted driving. The contest received nearly 3,000 submissions from students nationwide. Winning entries will be displayed on a Times Square billboard and in space donated by Clear Channel Outdoor (CCO). Scholarships are supported by CCO and Elephant Insurance. In 2022, 3,308 people died and 289,310 were injured in crashes involving distracted drivers, highlighting the importance of this initiative.
This year's entries were judged by prominent figures from the advertising and entertainment industries, including Aloe Blacc and Kweku Mandela. The contest emphasizes messages created by students for students, aiming to reduce distracted driving among teens and young adults.
Clear Channel Outdoor's Airports Division has partnered with Visit Annapolis & Anne Arundel County (VAAAC) to launch a 16-month advertising campaign at Baltimore/Washington International Thurgood Marshall Airport (BWI). This campaign, beginning in June, will utilize over 20 digital screens and the concourse tunnel, reaching an estimated 27 million travelers annually. BWI, which served 26.2 million passengers in 2023, is projected to see record-high travel numbers this summer. This marketing effort aims to enhance Annapolis's visibility and attract more visitors, coinciding with an expected 6.3% increase in U.S. airline passengers this summer.
Maricopa County, in collaboration with Clear Channel Outdoor, the Maricopa Association of Governments, and the City of Phoenix, has launched a new billboard campaign to promote local heat relief resources. Over 100 digital billboards will display critical information about 230+ heat relief sites to aid at-risk community members during Arizona's extreme heat season. This initiative follows a record-breaking 645 heat-associated deaths in 2023. The 24-hour 211 information service, promoted on the billboards, will help people access cooling centers, utility assistance, and A/C repair. Additionally, bilingual call centers have expanded capacity to handle increased demand. New branded street signs and weekend hours at cooling centers aim to further alleviate barriers like lack of awareness and transportation issues. For more information, visit Maricopa.gov/heat.
Clear Channel Outdoor Holdings, Inc. reported first quarter 2024 financial results with consolidated revenue of $482 million, a 10.1% increase from the previous year. The company's strategic plan focuses on profitability, technology investments, and strengthening the balance sheet through refinancing activities. Adjusted EBITDA increased by 53.6%, showing positive growth across America, Airports, and Europe-North segments. Debt activity included issuing new Senior Secured Notes and refinancing existing loans to improve liquidity. The company provided guidance for the second quarter and full year of 2024, with expectations of continued revenue growth and improved financial performance.
Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will participate in the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference. David Sailer, CFO, and Bob McCuin, CRO of Clear Channel Outdoor Americas, will present on May 21, 2024, at 5:05 p.m. ET. The webcast will be available on the company's investor website.
Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) will participate in TD Cowen's 52nd Annual Technology, Media & Telecom Conference with key executives presenting. The event is scheduled for May 29, 2024, at 2:25 p.m. Eastern Time, with a live webcast available on the company's investor website.
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