Outfront Media Inc. (NYSE:OUT) Q1 2024 Earnings Call Transcript

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So and I think — we feel yes we feel that that is likely to be neutral to mildly positive beneficial. Tech was up slightly in San Francisco. Going to your second question I think as we look forward there is far more positive stories come out of San Francisco right now. And it was actually and quite a bit of our growth that we achieved in San Francisco was from our local sales forces who did a great job to work. And so those are some of the national dollars but maybe still out there as we would like.

David Karnovsky: Thank you.

Operator: [Operator Instructions] The next question today is from the line of James Goss of Barrington Research. Please go ahead. Your line is open.

Unidentified Analyst: Hi. This is Pat on for Jim. I had a question on the automated advertising that you guys talked about earlier. I’m just wondering if the increase in that was a function and advertisers putting a greater percentage of their spend through that channel or an increase in the number of advertisers using that and just get more successful awareness of that opportunity for advertisers just are a combination of the two. Thank you.

Jeremy Male: So there’s two pieces to our automated platform. One is programmatic and that is it. It’s nicely up year-over-year. And that’s driven by some advertisers who might have come to us through normal channels, but also and there’s undoubtedly appetizers that there’s no way we would have bottomed. We would have reached some generated throughout and normal dedicated sales force. So that’s — where’s the balance on that base? The second piece is on our own automated platforms and there’s two pieces that one we’re going out and essentially selling rather than location-specific on a broad indication — in the case of billboards where they’re selling baskets of iballs [ph]. Now people are very keen to buy and iballs on a CPM basis.

And the way the rest of media trades and is certainly generating enthusiasm for advertisers that would not have believed would not have used our channel, we believe. I think the only final point to make on DDA is that essentially very efficient for us in terms of how we can allocate those revenues across our boards in terms of board utilization. So actually there are some buyers that we would prefer to go through that. So they’re not necessarily additive in terms of total ad dollars and but they are very efficient.

Unidentified Analyst: Okay. Thank you.

Operator: Thank you. And with no further questions in the queue I would like to turn the call back over to Jeremy Male for any closing remarks.

Jeremy Male: Well thanks, Larry and thanks everyone for tuning in today. Thanks for your questions. And we look forward to seeing you at various investor events over the coming weeks. Thank you again.

Operator: This concludes today’s conference call. Thank you all for joining. You may now disconnect your lines.

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