OUTFRONT Media Inc (OUTFRONT) operates as a consulting and advertising company. It offers advertising options which include billboards, advertising posters, walls, bus and rail media, street furniture, specialty signage, digital, mobile billboards, and sports media. As a percentage of overall revenue, digital revenue in FY2021 represented 26.6%.
Outfront’s 2021 consolidated revenue increased by 18.4% compared to FY2020, which was driven by sharp growth in its digital activities as the company continues to recover from the effects of COVID-19 pandemic restrictions. The company has seen increases in revenue across its portfolio, where digital billboard displays generate higher profits and cash flows than traditional static billboard displays. As a result, the company will continue to make sound investments in FY2021 in strategic projects, paying particular attention to the growth of its digital infrastructure.
The company increased the number of digital displays during COVID-19 to strengthen and protect the company over the long term, to focus on the accelerated expansion of its digital portfolio, strong market position, and transparent communications. In addition, as a part of its growth strategy, the company frequently evaluates strategic opportunities to acquire new businesses, assets, or digital technologies. In line with this strategy, they regularly evaluate potential acquisitions, from small transactions to larger acquisitions.
Despite the challenges to the economy stemming from the war in Ukraine, high inflation, and rising energy and consumer prices, Outfront media recorded healthy revenue in the digital media segment, the revenues rose by $269.3 million to $389.4 million in 2021 in line with its own targets and market expectations.
Digital revenue as a percentage of overall revenue grew marginally from 20.5% in FY2019 to 21.8% in FY2020. The fast growth of its digital advertising media remained the focus of the company’s investment in 2021. As of December 31, 2021, Outfront installed 11,092 digital displays and acquired 155 digital billboards.
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