Thursday, October 29, 2020 9:28:43 PM
Clear Channel Airports Wins Largest U.S. Airport Advertising Contract with Port Authority of New York & New Jersey to Transfo...
October 29 2020 - 06:51PM
PR Newswire (US)
Alert
Share On Facebook
NEW YORK, Oct. 29, 2020 /PRNewswire/ -- Clear Channel Airports (CCA), the Americas-based airports business of Clear Channel Outdoor Holdings, Inc. (NYSE: CCO), and one of the nation's leading airport media providers, announced today the Port Authority of New York and New Jersey (PANYNJ) awarded it the largest airport advertising and sponsorship contract in the U.S. The 12-year deal will see Clear Channel Airports reimagine the media program with new digital displays and sponsorship opportunities for brands at the coveted PANYNJ airports, including; John F. Kennedy International (JFK), LaGuardia (LGA), Newark Liberty International (EWR) and New York Stewart International (SWF) Airports.
Contingent upon execution by both parties, which we expect to occur in mid-November, CCA anticipates the new contract will go into effect December 30, 2020, and the advertising platform transformation will begin with EWR's Terminal One redevelopment project and in conjunction with new LGA facilities. CCA plans to modernize the entire advertising program across PANYNJ airports with a proposed 95% of the overall investment going into highly impactful digital media. These world-class airports represent major travel hubs that historically welcomed over 140 million passengers annually, providing attractive opportunities for brands to reach valuable international, business and leisure travelers throughout the greater metropolitan region.
Moreover, in addition to modernizing the passenger and brand experience at PANYNJ, the partners aligned their interests with contract terms that set the stage for both parties to achieve their goals under the current conditions and for years to come and could become the new industry model. The deal contains a two-year transition period to account for the impact of COVID-19 and the traffic recovery at Port Authority facilities. The actual MAG due each year, as well as capex spend, after the two-year transition period will be dependent upon passenger traffic at JFK, EWR, LGA and SWF.
"We are confident in the audiences these world-class airports will deliver to our advertising partners over the longer-term as business and leisure travel ramps," said Scott Wells, CEO, Clear Channel Outdoor Americas (CCOA). "The PANYNJ airports are gateways to the world, and, as the region recovers, we believe our team is best suited to lead this historical transformation that will reimagine and modernize the brand experience for travelers. We believe this contract is a win-win for both organizations and provides an innovative approach to large-scale transit media deals against the backdrop of a difficult current reality."
"These contracts advance two key priorities for the Port Authority: increased ad revenue and significant investment in modern digital infrastructure at our facilities," said Rick Cotton, Executive Director of the Port Authority of New York and New Jersey. "Moving forward, these contracts will enable the Port Authority to better sell advertising rights to generate hundreds of millions of dollars in revenue, while travelers will benefit from the latest in digital display technology that allows for real-time alerts."
With the addition of these high-value, marquee airport assets, CCOA will have one of the greater metropolitan region's most extensive Out-of-Home (OOH) advertising networks. As a result, brands will have the unique "one-stop-shop" ability to execute campaigns that reach consumers as they "drive, walk or fly" throughout the NY/NJ metro area including all major airports, highly desirable suburbs, major arterial roadways and the boroughs of New York City.
Additionally, we anticipate the new partnership will offer brands the OOH industry's most comprehensive audience targeting and measurement solutions available to help them optimize their OOH spend: CCO RADAR®. This includes access to the new industry standard audience impressions methodology from Geopath. Through this data integration, CCA has brought to bear, for brands in airports, the only OOH third-party validated impressions currency which factors in a travelers' movements through an airport, time spent in an airport and opportunity to see and consume advertising in an airport.
Recent CCO News
- Clear Channel Outdoor, Circana Alliance Delivers CPG Brands Greater Measurability, Insights & Performance for the OOH Ad Spend • PR Newswire (US) • 09/17/2024 01:45:00 PM
- Cameco nommée au TSX30 pour 2024 • Business Wire • 09/10/2024 10:14:00 PM
- Clear Channel Outdoor Holdings, Inc. to Participate in Deutsche Bank's 32nd Annual Leveraged Finance Conference • PR Newswire (US) • 09/10/2024 08:05:00 PM
- Cameco Named to TSX30 for 2024 • Business Wire • 09/10/2024 01:00:00 PM
- Clear Channel Outdoor Holdings, Inc. to Participate in Citi's 2024 Global TMT Conference • PR Newswire (US) • 08/20/2024 11:00:00 AM
- Clear Channel Outdoor Holdings, Inc. Reports Results for the Second Quarter of 2024 • PR Newswire (US) • 08/07/2024 10:00:00 AM
- Cameco présente ses résultats pour le deuxième trimestre : les prévisions pour 2024 sont maintenues ; solide performance d'exploitation ; les résultats financiers sont le reflet d'une transition vers des indicateurs économiques de premier plan... • Business Wire • 08/01/2024 11:30:00 PM
- Cameco reports Q2 results: 2024 outlook on track; strong operational performance; financial results reflect transition to tier-one economics; durable demand outlook driving long-term price increases; disciplined strategy capturing long-term value • Business Wire • 07/31/2024 10:41:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 08:15:05 PM
- Clear Channel Outdoor Holdings, Inc. Announces Date for 2024 Second Quarter Earnings Release and Conference Call • PR Newswire (US) • 07/08/2024 11:00:00 AM
- 'Visit Annapolis' Out of Home Campaign Dominates Baltimore/Washington International Thurgood Marshall Airport (BWI) as Record-Breaking Summer Travel Season Kicks Off • PR Newswire (US) • 06/28/2024 12:05:00 PM
- Cameco publie son rapport sur le développement durable 2023 • Business Wire • 06/27/2024 10:44:00 PM
- Cameco Releases 2023 Sustainability Report • Business Wire • 06/27/2024 04:53:00 PM
- Maricopa County, Clear Channel Outdoor Launch Regional Billboard Campaign to Share Critical Heat Relief Resources • PR Newswire (US) • 06/20/2024 05:37:00 PM
- SaskPower, Westinghouse et Cameco signent un protocole d'entente pour explorer le potentiel d'approvisionnement en réacteurs et en combustible • Business Wire • 06/18/2024 12:07:00 AM
- SaskPower, Westinghouse and Cameco Sign MOU to Explore Reactor and Fuel Supply Potential • Business Wire • 06/17/2024 07:14:00 PM
- SaskPower, Westinghouse and Cameco Sign MOU to Explore Reactor and Fuel Supply Potential • Business Wire • 06/17/2024 06:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:10:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:10:03 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/04/2024 08:10:03 PM
- Gabelli Funds to Host 16th Annual Media & Entertainment Symposium Thursday, June 6, 2024 • GlobeNewswire Inc. • 06/03/2024 12:00:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 05/24/2024 08:07:48 PM
- Cameco finalise un placement de débentures de 500 millions de dollars • Business Wire • 05/24/2024 06:04:00 PM
- Cameco annonce un placement privé de 500 millions de dollars de débentures • Business Wire • 05/21/2024 11:22:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:05:46 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM