Kiscada Hastings's questions to Clear Channel Outdoor Holdings Inc (CCO) leadership • Q3 2024
Question
Kiscada Hastings, on behalf of David Karnovsky from JPMorgan Chase & Co., asked about the secular drivers behind the sustained strength in the local advertising business and how key local categories like legal services are utilizing billboard advertising.
Answer
CEO Scott Wells attributed the strength in local advertising to a vibrant and competitive market where Clear Channel is actively expanding its sales teams and capabilities. He highlighted that legal services have been a key vertical where the company has developed deep expertise. Wells also noted that the company is focused on growing other local categories like auto dealers and retail, leveraging the medium's ability to support local businesses and the different dynamics of local agencies compared to national ones.