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

Key Highlights

The Company’s recent key highlights include:

  • Partnering with Lady Gaga and Clear Channel Media+Entertainment for the exclusive global unveiling of the cover artwork for her new album, ARTPOP – through a first-ever, out-of-home campaign that sequenced a stepped reveal of advertiser creative in unison on Clear Channel Outdoor's international network of digital billboards and screens. Also streamed live on www.ladygaga.com, direct from CCO's Spectacolor billboard in Times Square, the reveal showcased the global scale, reach and impact of our digital inventory across 18 cities worldwide.
  • Coordinating with Clear Channel Media+Entertainment to launch Paul McCartney's latest album, NEW, on Clear Channel Outdoor's digital network in 30 major cities across 18 countries through a pre-event tease of the iHeartRadio Album Release Party – utilizing six different creative executions, all designed to drive listeners to the party and #whatsnewpaul.
  • Introducing the new “Storm” brand in the UK – a client-branded, out-of-home digital network that delivers completely customized solutions in extremely short time frames – reaching premium audiences with advanced digital displays at Cromwell Road, Chiswick Towers and Coventry House at Piccadilly Circus ( www.stormdigital.com).
  • Creating an integrated social media plan with Coca-Cola for its “Share a Coke” campaign that allowed users – across several international markets – to see their name integrated into the iconic Coke logo on a Clear Channel digital display by posting their name on Facebook.
  • Installing 26 new digital bulletins for a total of 1,081 across 38 U.S. markets.
  • Expanding digital displays in Latin America by 50%, with 45 displays – including 15 in Chile, 16 in Mexico, and 14 in Peru.
  • Appointing Walker Jacobs as Chief Revenue Officer and President of Sales for Clear Channel Outdoor – North America, where he will have direct responsibility for the national advertising sales, sales marketing, revenue management, and sales operations teams. Jacobs joins from Time Warner’s Turner Broadcasting System, where he was Executive Vice President of Turner Digital.
 

Revenues, Operating Expenses and OIBDAN by Segment

 
(In thousands)       Three Months Ended           Nine Months Ended    
September 30, % September 30,

%

  2013         2012       Change   2013         2012       Change
Revenue 1        
Americas $ 331,346 $ 335,021 (1%) $ 952,832 $ 935,850 2%

International 3

  391,667         396,120   (1%)   1,187,262         1,207,900   (2%)
Consolidated revenue $ 723,013       $ 731,141   (1%) $ 2,140,094       $ 2,143,750   (0%)
 
Operating Expenses 1,2
Americas $ 196,711 $ 198,946 (1%) $ 584,908 $ 580,647 1%

International 3

  330,820         328,275   1%   1,000,953         1,027,701   (3%)
Consolidated operating expenses $ 527,531       $ 527,221   0% $ 1,585,861       $ 1,608,348   (1%)
 
OIBDAN 1
Americas $ 134,635 $ 136,075 (1%) $ 367,924 $ 355,203 4%

International 3

60,847 67,845 (10%) 186,309 180,199 3%

Corporate 1

  (28,067 )       (25,160 )   (85,788 )       (77,207 )
Consolidated OIBDAN $ 167,415       $ 178,760   (6%) $ 468,445       $ 458,195   2%
 

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

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