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Clear Channel Outdoor Holdings, Inc. Reports Results For 2013 Second Quarter

Stocks in this article: CCO

Key Highlights

The Company’s recent key highlights include:

  • Launching consumer networks in the U.S., comprised of targeted portfolios of displays delivering pre-selected demographic groups supported by Traffic Audit Bureau (TAB) ratings that plug into existing advertiser models – an innovation that offers advertisers and agencies a simpler and easier buying process with enhanced audience metrics and greater exposure to the targeted audience.
  • Announcing that Clear Channel Airports won a five-year contract with extension options to provide indoor digital media programs at Chicago’s O’Hare and Midway International airports, where Clear Channel has operated since 2002. The program will include approximately 400 digital displays and reach 66 million passengers annually. Clear Channel Airports was also selected by San Francisco International Airport to provide digital media and sponsorship solutions throughout its terminals, including 30 digital installations that will reach more than 10 million passengers annually.
  • As part of Clear Channel Outdoor’s sponsorship of the Cannes Lions International Festival of Creativity, creating the world’s first hand-painted micrography billboard made entirely of tweets which were sent to #Canvas or @CCOutdoor, delivering a reach of more than 10 million impressions over four days.
  • Highlighting the immediacy and flexibility of the Americas digital out-of-home network, beginning on July 4, 2013, 1,000 digital billboards across the U.S. displayed the lyrics of “The Star Spangled Banner” linked to the #united4th campaign, which was also promoted on more than 200 Clear Channel radio stations and on iHeartRadio.
  • Creating a mobile-controlled, personalized, geo-specific campaign across five European countries to promote the theatrical release of Universal Pictures’ Despicable Me 2. Across a network of 259 digital screens, consumers could control and personalize the on-screen creative via their mobile phones, and receive a text link back to share their personalized Minion film socially. The interactive campaign was supported by additional static and digital formats.
  • Installing nine new digital billboards for a total of 1,055 across 37 U.S. markets.

Revenues, Operating Expenses, and OIBDAN by Segment

(In thousands) Three Months Ended Six Months Ended
June 30, % June 30, %
2013 2012 Change 2013   2012 Change
Revenue 1
Americas $ 335,025 $ 320,678 4 % $ 621,486 $ 600,829 3 %
International 3   431,846     440,648   (2 %)   795,595     811,780   (2 %)
Consolidated revenue $ 766,871   $ 761,326   1 % $ 1,417,081   $ 1,412,609   0 %
Operating Expenses 1,2
Americas $ 196,934 $ 186,644 6 % $ 388,197 $ 381,701 2 %
International 3   335,644     350,422   (4 %)   670,133     699,426   (4 %)
Consolidated operating expenses $ 532,578   $ 537,066   (1 %) $ 1,058,330   $ 1,081,127   (2 %)
Americas $ 138,091 $ 134,034 3 % $ 233,289 $ 219,128 6 %
International 3 96,202 90,226 7 % 125,462 112,354 12 %
Corporate   (31,558 )   (27,798 )   (57,721 )   (52,047 )
Consolidated OIBDAN $ 202,735   $ 196,462   3 % $ 301,030   $ 279,435   8 %

Certain prior period amounts have been reclassified to conform to the 2013 presentation of financials throughout the press release.

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