Welcome to our dedicated page for OUTFRONT Media news (Ticker: OUT), a resource for investors and traders seeking the latest updates and insights on OUTFRONT Media stock.
OUTFRONT Media Inc. (NYSE: OUT) is a prominent real estate investment trust specialized in the ownership of advertising space across a vast portfolio of billboards and transit displays. The company generates revenue by allowing other companies to advertise on its properties and structures under short-term contracts, making it a crucial player in the out-of-home (OOH) advertising industry.
OUTFRONT Media boasts the industry's most extensive and desirable landmark locations, featuring prime spots in high-traffic areas, retail districts, transit hubs, and iconic destinations including Times Square and the Sunset Strip. It operates over 400,000 displays nationwide, with a significant digital billboard network that is continuously expanding.
The company’s operations are primarily segmented into the United States and International units, although the majority of its revenue is derived from the U.S. market. Notably, about half of the U.S. revenue comes from New York City and Los Angeles. OUTFRONT Media's clientele spans diverse industries such as retail, television, healthcare, and entertainment.
OUTFRONT Media places a strong emphasis on customer-centric operations, striving to make the planning, buying, and execution of advertising campaigns as seamless as possible. The company is renowned for its exceptional customer service and commitment to exceeding client expectations. It is also at the forefront of innovation, leveraging cutting-edge technologies to create new markets, formats, and opportunities. This includes integrating digital networks with social and mobile platforms to enhance advertising efficacy.
Recently, OUTFRONT Media made significant strides with the expansion of its programmatic capabilities in transit advertising, especially within New York City's MTA system. This will enable advertisers to reach millions of commuters with targeted messaging through a network of digital signs.
In terms of financial performance, OUTFRONT Media continues to report steady revenue growth. In the second quarter of 2023, the company reported revenues of $468.8 million, a 4.1% increase from the prior year. However, challenges such as increasing interest expenses and impairment charges related to the MTA asset group have impacted overall profitability.
The strategic sale of its Canadian business to Bell Media, completed in the third quarter of 2023, has provided additional financial flexibility. OUTFRONT Media remains committed to enhancing shareholder value through regular dividends, with significant payouts reported across recent quarters.
Through continuous innovation and strategic partnerships, OUTFRONT Media is set to drive the out-of-home advertising industry forward, ensuring it remains a key channel for brands looking to connect with audiences on-the-go.
OUTFRONT Media Inc. (NYSE: OUT) has announced that it will release its financial results for the second quarter of 2024, ending June 30, on Tuesday, August 6, 2024, after the market closes. The company will host a conference call to discuss the results on the same day at 4:30 p.m. Eastern Time.
Investors and interested parties can access the earnings announcement in the Investor Relations section of OUTFRONT's website. The conference call can be joined using the following details:
- U.S. callers: 833-470-1428
- International callers: 404-975-4839
- Passcode: 988725
Both live and replay versions of the conference call will be available via webcast on the company's website.
OUTFRONT Media (NYSE: OUT) has finalized the sale of its Canadian business to Bell Media, a subsidiary of BCE (TSX, NYSE: BCE), for C$410 million in cash, subject to adjustments. This transaction enables OUTFRONT Media to reduce financial leverage and refocus on its U.S. operations. The deal is seen as highly beneficial for Bell Media, significantly enhancing its portfolio in the out-of-home advertising sector with additional digital and traditional assets. According to OUTFRONT Media's CEO Jeremy Male, the sale underscores the value of their out-of-home assets.
Bell Media President Sean Cohan highlighted that the acquisition will bolster Bell Media's leadership and deliver superior results for advertising partners.
OUTFRONT Media (NYSE:OUT) and GLAAD have launched the 'Protect Our Pride' campaign to celebrate Pride Month in June. For a $25 donation to GLAAD, individuals can display their photo, name, and a personalized message on digital billboards nationwide. LGBTQ-owned businesses can choose a specific message for a $250 donation. This initiative follows last year's '15 Seconds of Fabulous' campaign and aims to spotlight the LGBTQ community, encouraging corporate allyship. The funds raised will support GLAAD's mission to advance LGBTQ acceptance and equality.
OUTFRONT Media (NYSE: OUT) announced that its CEO, Jeremy Male, will present at J.P. Morgan's 52nd Annual Global Technology, Media and Communications Conference. The event is scheduled for May 21, 2024, at 2:25 p.m. Eastern Time. A live and replay audio webcast will be available on the investor relations section of OUTFRONT Media's website.
OUTFRONT Media Inc. reported strong first quarter financial results with revenues of $408.5 million, operating income of $14.0 million, and a net loss of $27.2 million. Adjusted OIBDA stood at $66.5 million, with AFFO of $23.2 million. The company also declared a quarterly dividend of $0.30 per share, payable on June 28, 2024. The U.S. Media segment saw a revenue increase of 3.5%, while the Other segment reported a decrease of 2.6%. Adjusted OIBDA increased by 10.5% compared to the same period last year. Overall, OUTFRONT Media Inc. highlighted positive growth and solid financial performance for the quarter.
OUTFRONT Media Inc. (NYSE: OUT) has declared a quarterly cash dividend of $0.30 per share payable on June 28, 2024, to shareholders of record at the close of business on June 7, 2024.
OUTFRONT Media and the NYC Landmarks60 Alliance have launched Trivia Moments, an interactive citywide competition celebrating the 60th anniversary of NYC's Landmarks Law. New Yorkers can participate by answering daily trivia questions displayed on digital screens across the city, with weekly winners receiving free NYC Subway or Bus rides. The initiative aims to educate and engage the public about the history and landmarks of New York City.
OUTFRONT and StreetMetrics have joined forces to revolutionize bus advertising measurement, proving its effectiveness in driving positive outcomes for brands. The partnership focuses on dynamic measurement and attribution analysis, showcasing the shift towards lower funnel metrics to demonstrate the value of out-of-home (OOH) advertising in omnichannel marketing. Through various attribution studies, it has been established that bus advertising not only increases brand awareness but also drives consumers down the funnel, leading to actions like website visits, app downloads, and store visits. This collaboration is a game-changer in the industry, providing actionable insights to clients and highlighting the impact of bus advertising on overall marketing strategies.
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