by Amber Larkins, OOH Today

Comparing the Big 3 for Q4: Lamar vs Clear Channel vs OUTFRONT

Comparing Lamar, Outfront, and Clear Channel Revenues for Q4 2023

All 3 of the big 3 have had their Q4 earnings calls, and the results have been released. Growth was relatively stagnant at all three organizations:

Outfront	1.30%
Lamar	3.80%
Clear Channel	0.50%

The chart below shows and compares their Q4 revenue in millions:

Also, all three of the Big 3 have debt, with their debt numbers measured in the billions while revenue is only measured in millions.

Here’s a quick snapshot of what’s going on at each company according to their earnings reports and calls:

Clear Channel Outdoor

Clear Channel Outdoor’s America group had flat growth 2023 4th quarter, but their airport revenue was up 44 percent. The overall Clear Channel Revenue increased 12% overall to $632 million. 

They project 6-12% growth for the first quarter and 3-6% overall for 2024. They continue to sell off their businesses in other markets and say the goal is to streamline their organization to focus on US markets.

Lamar Advertising

Lamar Advertising 36 acquisitions in 2023 and organic revenue growth of 2.5%. Local revenue increased (3.3%), national revenue went down (4%), and programmatic revenue grew (10%). They project 3-4% growth in the first quarter of 2024.

They say they are slowing down on acquisitions and digital conversions in 2024. They say they will pay down debt this year. 

OUTFRONT Media 

Billboard revenue had a 2.6% increase. Transit revenue declined 4%. Local revenue grew 4.5% and national revenue declined 3.1%. They expect a better year in 2024. They think Q1 total revenue growth will be low to mid-single-digit range and believe that billboard and transit revenue will increase. They plan to close the sale of their Canadian business in the first half of this year and apply the proceeds to debt. 

How are Clear Channel, Lamar, and OUTFRONT doing?

Decide for yourself. All three companies project good growth for Q1 2024. Time will tell. Here are some of the stories we’ve reported on them throughout 2023. Do you see any trends?

Clear Channel Outdoor OOH Today 2023 Stories:

A telling tale of selling off inventory.

• Wells Fargo Says “Go Go Go” to Clear Channel others say “No No No”
• Clear Channel’s UK, The Nordics, Mexico, Brazil, Chile & Peru Next As CCO Completes Sale Of France
• Clear Channel Outdoor Announces 2023 Third Quarter Earnings Release And Conference Call
• Clear Channel’s France has Fallen
• SEC Settles with Clear Channel Outdoor for 26.1 Million Involving US Foreign Corrupt Practices
• Clear Channel Fire Sale Continues

Lamar Advertising OOH Today 2023 Stories:

A steady story of acquisitions and transitions to digital.

• Lamar Takes St. Louis from Clear Channel Airports
• Lamar Third Quarter 2023 Operating Results
• Lamar Acquires Bill Salter Advertising 1750 Display Faces
• Lamar Advertising Digital Airport Inventory Now Available for Programmatic Buying
• Lamar Keeps Foot on Accelerator Securing New Transit Advertising Across Canada
• Lamar Acquires Digital Conversion Sites in Phoenix

OUTFRONT Media OOH Today 2023 Stories: 

A suspenseful epic of ups and downs.

• Outfront Value Falls Behind
• Outfront Opens New West Region Headquarters
• Outfront Media is Doing What?!
• Rob MacMillan says Outfront is Divesting its Canada Business
• Outfront Media 3rd Quarter 2023 Results