Recently, Clear Channel Airports, an operating unit of Clear Channel Outdoor Holdings Inc. (CCO - Snapshot Report), won a deal from San Francisco International Airport (SFO) for providing digital media and sponsorship solutions at its airport terminals. The 8-year partnership will specifically promote tourism and local business organizations through ambient digital art at SFO.
Clear Channel intends to use an innovative advertising concept, wherein it will use imagery, illustrations and quotes displaying reputed Bay Area locations, landmarks, neighborhoods and personalities. According to Clear Channel, the concept, with the use of 30 digital installations, will allow advertisers reach to more than 10 million passengers annually using SFO.
The collaboration is expected to be win-win situation for all the participants. The deal is a lucrative opportunity for the sponsors to leverage their marketing strategies through digital media and try to convert air passengers to customers. The architectural designs will also provide a positive experience for passengers, tempting them to further explore San Francisco as tourists. Additionally, the deal is also expected to strengthen SFO’s connection with the Bay Area.
Clear Channel’s innovative concept will likely generate $80 million of annual revenues for California’s second busiest airport and will allow organizations and sponsors to customize campaigns according to the needs of the different groups, which include business travelers, tourists and convention visitors.
Clear Channel is one of the largest outdoor advertising companies in the world, with displays spread across 40 countries worldwide. Over the past 37 years, Clear Channel Airports has been dedicated to airport designing, which makes it one of the leading companies in this category.
Currently, Clear Channel has a Zacks Rank #3 (Hold). Other leading players in the advertising industry such as Omnicom Group Inc. (OMC - Analyst Report), AirMedia Group Inc. (AMCN - Snapshot Report) and WPP plc (WPPGY - Analyst Report) are worth considering. Each of the above mentioned stock carries a Zacks Rank #2 (Buy)