Starting today, Clear Channel Outdoor will begin implementing the plan passed unanimously by the St. Petersburg, FL city council that modernizes the city outdoor advertising industry. This historic plan replaces 83 traditional faces throughout St. Petersburg with six static digital billboards, including two on city property from which the city will receive 15% of revenue that will serve as an important revenue source. This transition begins today and will continue over the next six months.
The unanimous decision by the city council follows models set by Tampa, Pinellas County and other cities to modernize the outdoor advertising industry which provides local businesses with the most affordable and effective advertising channels while offering communities valuable resources to be used for public safety and emergency service situations.
“The city council’s unanimous vote resulted from many groups, including neighborhood associations, our Chamber of Commerce, city planning team and of course concerned citizens, who contributed positive feedback so that St. Petersburg could modernize our aging billboard network,” said Tom O’Neill, Vice President of Public Affairs/Clear Channel Outdoor – St. Petersburg/Tampa Market. “The city council’s decision will benefit St. Petersburg businesses, the city and the citizens of our great area.”
The outdoor advertising industry is over 100 years old, and has become more relevant today than ever before. Local businesses seeking to advertise their brand, products and services have very few affordable and effective options, but outdoor advertising is a proven and effective choice. The St. Petersburg community has significantly changed over the past 50 years, and the city council has found a balanced and fair resolution to remove billboards in locations that make no sense in today’s St. Petersburg neighborhoods.“This deal is a great example of partnering with the local government to find a unique solution tailored to St. Pete that preserves and improves the critically important outdoor advertising industry while addressing the specific concerns of a local community,” said Bryan Parker, Executive Vice President, Real Estate and Public Affairs for Clear Channel Outdoor Americas. “We have been a part of urban landscapes for over 100 years and we are committed to working with local communities to help modernize our billboards to preserve the critical ability of businesses to reach consumers while fitting into today’s landscape.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts