Valuations of out-of-home advertising companies are down (Billboard Insider)

Mark Boidman: “If you look back to 2019 Lamar was around 15 1/2 times…forward multiple…and OUTFRONT is at 13.5 times… all these companies are significantly discounted to where they were in 2019." Billboard Insider’s take: Why are public out of home multiples down? We suspect it’s because of slowing revenue growth caused by a drop in national and programmatic advertising. […]