Clear Channel Sales Down 25%; It's Faring the Worst of the Billboard Companies

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Clear Channel Outdoor lost $91 million in Q1 2009, the company reported, on revenue of $582 million, down 25 percent from $776 million.

Clear Channel is doing the worst compared to Lamar Advertising and CBS Outdoor, who round out the three big billboard providers. Dow Jones:

CBS Corp. (CBS) said its billboard revenue fell 24%. Lamar Advertising Co. (LAMR), which also reported results last week, only saw revenue decline 12%, but its forecast indicated a further drop-off in the second quarter.

Like Lamar, Clear Channel is in the midst of a swingeing cost-cutting program.

The results actually pushed up stock of Lamar and CBS, as Clear Channel’s declined on the news.

See also:
Lamar Q1: 400 Laid Off; “We’re Going to Bump Along the Bottom for a While”

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getsammy

05/13/09 | Report as spam

RE: Clear Channel Sales Down 25%; It's Faring the Worst of the Billboard Companies

This is so frustrating. I hate to sound like a know it all but in 2001 I pitched them (while at a start up) I was doing biz dev for on making their outdoor media interactive using key words and a easy to remember 800 number: 1-800-777-INFO Keyword: (Subject of message here)
It provided a direct response component and a way for people to bookmark the billboard and have it sent to them by email or text etc. or simply listen to a more detailed message or if they wanted immediate info be connected to the advertiser.
This would not solve all their problems but I think it would have given them an opportunity to add some real value to their real estate. It is still a good idea! And would make a cool iphone app too!