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OUTFRONT Media (OUT) Boosts OUTFRONT PRIME With sOOH Offerings
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To harness the power of social and premium out-of-home (OOH) assets across top-tier markets, OUTFRONT Media (OUT - Free Report) has announced the enhancement of OUTFRONT PRIME with new social out-of-home (sOOH) capabilities.
Per a Comscore research, OOH campaigns garner seven times more social posts, per ad dollar spent compared with other measured mediums. It receives five times more website visits, six times more social searches and 5.3 times more online purchases. Moreover, the campaigns that combine social and OOH generate up to 10 times the reach. Hence, OUT’s recent move seems prudent.
Through OUTFRONT PRIME, the company will be able to broaden its reach to brands seeking to couple social media and influencer activations with OOH campaigns on its most premium assets.
In recent years, brands have been driving social amplification by using their OOH campaigns as their core content. With OUTFRONT PRIME’s portfolio of 250-plus coveted, high-impact locations across the United States, it is well-positioned to capitalize on this trend that has organically grown in recent years.
Productizing this new sOOH sector will be beneficial for OUTFRONT Media. It will be able to maximize these capabilities and social learnings to work even more closely with social-first brands and agencies to co-create opportunities to leverage the PRIME assets' massive potential for earned attention.
In addition, OUTFRONT Media is offering influencer marketing support that ranges from consultation to social listening, including identifying influencers to work with via a partnership with Tagger. To emphasize this capability, the company has commenced rolling out new branding across its PRIME locations, featuring the "#outfrontprime" hashtag.
After their successful campaigns with OUTFRONT Media's other premium assets, such as the transit and innovative technologies like the spatial 3-D, interactivity, AR, VR and Web3, brands have been actively utilizing the sOOH feature.
Brands already launched or soon to be live via OUTFRONT PRIME include E.L.F. Cosmetics, HBO Max and (Red). These brands have partnered with leading social media influencers to amplify their new campaigns.
OOH advertising has been growing at a rapid pace and continues to increase its market share in comparison with other forms of media. Given the technological advancements and low-cost nature of OOH advertising, it has been gaining traction in recent years.
In the upcoming years, higher technology investments are expected to provide further support to OOH advertising. Therefore, OUTFRONT Media’s efforts to provide a unique technology platform for marketers to tap growth opportunities bode well.
Although OUTFRONT Media carries a Zacks Rank #4 (Sell), presently, its shares have gained 20.4% in the quarter-to-date period compared with its industry’s growth of 6.1%.
The Zacks Consensus Estimate for VICI Properties’ current-year FFO per share is pegged at $1.91.
The Zacks Consensus Estimate for Lamar Advertising’s 2022 FFO per share is pegged at $7.34.
The Zacks Consensus Estimate for Terreno Realty’s ongoing year’s FFO per share is pegged at $1.97.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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OUTFRONT Media (OUT) Boosts OUTFRONT PRIME With sOOH Offerings
To harness the power of social and premium out-of-home (OOH) assets across top-tier markets, OUTFRONT Media (OUT - Free Report) has announced the enhancement of OUTFRONT PRIME with new social out-of-home (sOOH) capabilities.
Per a Comscore research, OOH campaigns garner seven times more social posts, per ad dollar spent compared with other measured mediums. It receives five times more website visits, six times more social searches and 5.3 times more online purchases. Moreover, the campaigns that combine social and OOH generate up to 10 times the reach. Hence, OUT’s recent move seems prudent.
Through OUTFRONT PRIME, the company will be able to broaden its reach to brands seeking to couple social media and influencer activations with OOH campaigns on its most premium assets.
In recent years, brands have been driving social amplification by using their OOH campaigns as their core content. With OUTFRONT PRIME’s portfolio of 250-plus coveted, high-impact locations across the United States, it is well-positioned to capitalize on this trend that has organically grown in recent years.
Productizing this new sOOH sector will be beneficial for OUTFRONT Media. It will be able to maximize these capabilities and social learnings to work even more closely with social-first brands and agencies to co-create opportunities to leverage the PRIME assets' massive potential for earned attention.
In addition, OUTFRONT Media is offering influencer marketing support that ranges from consultation to social listening, including identifying influencers to work with via a partnership with Tagger. To emphasize this capability, the company has commenced rolling out new branding across its PRIME locations, featuring the "#outfrontprime" hashtag.
After their successful campaigns with OUTFRONT Media's other premium assets, such as the transit and innovative technologies like the spatial 3-D, interactivity, AR, VR and Web3, brands have been actively utilizing the sOOH feature.
Brands already launched or soon to be live via OUTFRONT PRIME include E.L.F. Cosmetics, HBO Max and (Red). These brands have partnered with leading social media influencers to amplify their new campaigns.
OOH advertising has been growing at a rapid pace and continues to increase its market share in comparison with other forms of media. Given the technological advancements and low-cost nature of OOH advertising, it has been gaining traction in recent years.
In the upcoming years, higher technology investments are expected to provide further support to OOH advertising. Therefore, OUTFRONT Media’s efforts to provide a unique technology platform for marketers to tap growth opportunities bode well.
Although OUTFRONT Media carries a Zacks Rank #4 (Sell), presently, its shares have gained 20.4% in the quarter-to-date period compared with its industry’s growth of 6.1%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the REIT sector are VICI Properties (VICI - Free Report) , Lamar Advertising (LAMR - Free Report) and Terreno Realty (TRNO - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for VICI Properties’ current-year FFO per share is pegged at $1.91.
The Zacks Consensus Estimate for Lamar Advertising’s 2022 FFO per share is pegged at $7.34.
The Zacks Consensus Estimate for Terreno Realty’s ongoing year’s FFO per share is pegged at $1.97.
Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.