Welcome to our dedicated page for Clear Channel Outdoor Holdings news (Ticker: CCO), a resource for investors and traders seeking the latest updates and insights on Clear Channel Outdoor Holdings stock.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is a leading global player in the outdoor advertising industry, operating in over 30 countries across North America, Latin America, Europe, and Asia. The company boasts a robust presence in 43 of the top 50 U.S. markets, and its expanding digital platform includes more than 1,200 digital billboards across 28 U.S. markets. Clear Channel Outdoor helps advertisers craft impactful out-of-home campaigns using both traditional and digital formats in various environments such as roadside, urban, transit, airport, street furniture, and retail near the point of sale.
The company enables brands to engage with mobile consumers, integrating out-of-home advertising with mobile and social media to boost customer engagement and drive purchases. By leveraging its extensive portfolio of over 330,000 print and digital displays in 19 countries (excluding businesses held for sale), Clear Channel Outdoor connects advertisers with millions of consumers monthly.
Recent Achievements:
- Clear Channel Outdoor reported fourth-quarter consolidated revenue of $632.1 million, a 12.4% increase year-over-year, driven by strong performance in the Airports and Europe-North segments.
- The company sold its businesses in Switzerland, Italy, and Spain, generating $153.5 million in aggregate proceeds. These sales, reflecting the company's strategic focus on higher-margin U.S. markets, are part of an ongoing process to optimize its portfolio.
- Clear Channel Outdoor recently refinanced a significant portion of its debt, extending maturities and improving financial flexibility. This includes a new term loan facility and the issuance of $865 million in senior secured notes due 2030.
Financial Condition & Current Projects: The company continues to strengthen its balance sheet, with $193.2 million in cash and a clear focus on reducing leverage. As part of its strategic roadmap, Clear Channel Outdoor is enhancing its technology and digital infrastructure to increase operating leverage and organically grow EBITDA and free cash flow. The sale process of their Europe-North segment and Latin American businesses is ongoing.
Partnerships & Innovations: Clear Channel Outdoor is at the forefront of innovation within the out-of-home advertising industry. The company’s dynamic advertising platform includes data analytics and programmatic capabilities, making campaigns more measurable and easier to purchase. This innovation broadens the advertiser base, driving significant engagement across its diverse portfolio.
Visit the company’s website at clearchanneloutdoor.com for more information.
Clear Channel Outdoor Americas (CCOA) has launched a partnership with Bombora to enhance its RADARView audience planning solution, allowing brands to target B2B decision-makers effectively. This integration provides advertisers with insights into over 100 B2B audience segments and how CCOA's displays impact these groups. As businesses adapt to pandemic-induced changes, the solution enables precise targeting for brands looking to reach key business audiences, including C-level executives and small business owners, throughout their daily routines.
Clear Channel Outdoor Americas (CCO) announced a partnership with No Kid Hungry to launch a nationwide digital billboard campaign aimed at addressing childhood hunger during the holiday season. This initiative, running through the end of the year, promotes local meal resources and aims to reach tens of millions of viewers. With nearly one in four children facing food insecurity exacerbated by the pandemic, the campaign highlights available assistance in both English and Spanish across 1,400 digital billboards.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that its executive team, including CEO William Eccleshare, CFO Brian Coleman, and Scott Wells, CEO of Clear Channel Outdoor Americas, will participate in a Q&A session at the Wells Fargo TMT Summit on December 2, 2020, at 10:40 a.m. ET. A live audio webcast will be available on their investor website, with a 30-day replay option. As a leading outdoor advertising firm, CCO operates approximately 500,000 displays globally, including over 16,000 digital displays.
Clear Channel Outdoor Americas (CCOA) is actively supporting businesses in their recovery from COVID-19 by launching the COVID-19 Recovery Resource Center. This initiative provides marketers with essential data insights, strategic marketing ideas, and case studies to navigate the changing consumer landscape. Through its RADARView® solution, CCOA helps identify 'lapsed shoppers' and offers targeted advertising strategies. The initial findings reveal that outdoor advertising continues to effectively drive in-store visits, with some businesses witnessing significant sales increases during the pandemic. CCOA plans to expand these resources as the economy recovers.
Clear Channel Outdoor Holdings reported Q3 2020 financial results with a 31.8% revenue decline in the Americas to $223.7 million and a 13.4% drop in Europe to $216.9 million. Despite the pandemic's ongoing impact, the company noted a sequential revenue growth compared to Q2 as mobility and traffic metrics improved. Clear Channel secured significant contracts, including the largest U.S. airport advertising deal, enhancing long-term prospects. As of September 30, 2020, the company maintained a healthy liquidity position with $845 million in cash.
Clear Channel Airports (CCA) has secured the largest airport advertising contract in the U.S. from the Port Authority of New York and New Jersey (PANYNJ). This 12-year agreement will modernize media programs at key airports including JFK, LGA, EWR, and SWF, with 95% of investments directed towards digital displays. The contract includes a two-year transition period to adapt to COVID-19 impacts, with annual revenue dependent on passenger traffic. The deal aims to enhance brand visibility and provide advertisers comprehensive audience targeting through CCO RADAR®.
On October 23, 2020, Clear Channel Airports (CCA), the airport advertising division of Clear Channel Outdoor Holdings (NYSE: CCO), announced a pioneering rollout of a new audience impressions methodology. Developed by Geopath, this system enhances advertisers' understanding of consumer behavior within airports, moving beyond basic passenger counts. The new methodology demonstrates that airport advertising campaigns could deliver impressions up to 8x higher than previously estimated. This initiative aims to provide greater transparency and effectiveness in advertising campaigns as travel gradually increases.
Clear Channel Outdoor (NYSE: CCO), in collaboration with Afterschool Alliance and other organizations, has launched a nationwide campaign featuring over 1,000 digital billboards to celebrate the Lights On Afterschool event. This campaign highlights the vital role of afterschool programs during the pandemic, which now serve 10.2 million students, amid a significant unmet demand. The rally aims to raise awareness of the importance of these programs in enhancing education, safety, and community engagement, especially for underserved communities.
Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) is set to announce its 2020 third quarter earnings before the market opens on November 9, 2020, at 7:00 a.m. Eastern Time. A conference call will follow at 8:30 a.m. to discuss the results. Investors can access the call by dialing 877-665-6356 for U.S. callers or 270-215-9897 for international callers, with the access code 8978255. A live audio webcast will also be available on the company’s website, and replays will be accessible for 30 days after the call.
Clear Channel Outdoor Holdings (NYSE: CCO) announced that its Worldwide CEO William Eccleshare, CFO Brian Coleman, and CEO of Clear Channel Outdoor Americas Scott Wells will participate in a Q&A session at the Goldman Sachs 29th Annual Communacopia Conference on September 17, 2019, at 10:30 a.m. ET.
A live audio webcast will be accessible on the company's investor website for 30 days after the event. Clear Channel Outdoor is a leading outdoor advertising firm with approximately 510,000 displays worldwide, including 15,000 digital displays.
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