Global outdoor advertising leader
Clear Channel Outdoor
BlueFocus Communications Group
(BFCG), a leading Chinese communications company, recently
announced a multi-year partnership to promote high-flying Chinese
brands to American consumers. However, the news failed to cheer
investment sentiment as the share prices of Clear Channel remained
relatively flat on the following day on Jul 3.
The deal gives Chinese brands access to some of the most valued
out-of-home (OOH) digital sites in the U.S. like Times Square and
San Francisco International Airport. The Times Square space will be
handled by the company's Clear Channel Spectacolor while Clear
Channel Airports will be controlling advertising media at all major
airports. The strategic goal of BlueFocus is aimed towards
digitalization and globalization of its services as it expects
revenues to grow ten times within a decade.
The deal with BlueFocus is likely to be a valuable proposition as
Chinese brands expand their global reach and reach out to newer
consumers, with the U.S. being one of the most important markets.
Clear Channel will be utilizing its expertise in exceptional
marketing programs such as full motion video screens and wallscapes
to enable BlueFocus to effectively reach out to a larger mass.
Clear Channel aims to use innovative advertising concepts to expand
its reach. At present, Clear Channel is concentrating on
strengthening its business and expanding its client base as over
1000 large format digital billboards reaches more than 80 million
adults monthly. Also, Clear Channel maintains a sound and flexible
balance sheet with ample liquidity for key acquisitions to fuel its
Clear Channel currently has a Zacks Rank #3 (Hold).
Better-ranked stocks that are worth a look include
Marin Software Incorporated
Omnicom Group Inc
), all carrying a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
OMNICOM GRP (OMC): Free Stock Analysis Report
CLEAR CHANL OUT (CCO): Free Stock Analysis
COUPONS.COM INC (COUP): Get Free Report
MARIN SOFTWARE (MRIN): Free Stock Analysis
To read this article on Zacks.com click here.