OOH News You Oughta Know Today
A roundup of the latest industry headlines that should be on your radar.
Billboards Poet Laureate
The Academy of American Poets has announced its latest round of gifts through the Poet Laureate Fellowship Program, awarding 22 poets around the country each $50,000 grants. Among this year’s Fellows: Michigan laureate Nandi Comer, whose billboard project includes excerpts from Michigan poets and a QR code directing readers to the Library of Michigan’s website.
Dems Outspending GOP
Democrats have poured nearly twice as much cash into political ads this cycle ($325M) compared to Republicans ($181M), according to the latest projections from AdImpact. With the exception of radio, AdImpact’s data only measures video advertising spend.
Outfront Target Raised on Upbeat Outlook
Outfront Media saw its price target increased by TD Cowen from $16 to $17 while the firm kept a Hold rating on the stock, following Outfront’s Q2 financial results that exceeded profitability expectations, though it fell short on revenue.
Clear Channel Q2 Earnings Snapshot
Clear Channel Outdoor Holdings Inc. reported a loss of $39.2M in Q2, missing Wall Street expectations. Revenue of $558.5M also missed forecasts.