OUTFRONT Media Inc. reported a total revenue of $1.83 billion for the fiscal year ending December 31, 2024, reflecting a slight increase of 1% from $1.82 billion in 2023. The company's organic revenue, which excludes the impact of its recent sale of Canadian operations, rose by 4% to $1.80 billion, driven by growth in both its Billboard and Transit segments. The company achieved a net income of $258.2 million, a significant recovery from a net loss of $425.2 million in the previous year, primarily due to lower impairment charges and a gain from the sale of its Canadian business, which generated C$410 million in cash.
In terms of operational changes, OUTFRONT Media completed the sale of its Canadian business on June 7, 2024, which had previously been a part of its international operations. This strategic move allowed the company to focus on its core U.S. markets, where it operates approximately 19,600 lease agreements across 120 markets, including all of the 25 largest U.S. markets. The company also reported a total of 30,323 digital displays in its portfolio, with digital revenues reaching $601.7 million, up from $588.3 million in 2023.
The company’s employee headcount stood at 2,149 as of December 31, 2024, with a notable focus on enhancing employee engagement and retention, as evidenced by a decrease in voluntary turnover rates from 13% in 2023 to 12% in 2024. OUTFRONT Media continues to invest in its digital display capabilities, which are expected to generate higher profits compared to traditional static displays. The company built or converted 89 digital billboard displays in 2024, alongside 6,664 digital transit displays, indicating a commitment to expanding its digital footprint.
Looking ahead, OUTFRONT Media anticipates continued growth in its digital advertising segment, with expectations of annual capital expenditures of approximately $85 million in 2025, primarily for new and replacement digital displays. The company also aims to enhance its revenue management strategies to improve profitability across its advertising structures. However, it remains cautious about external factors such as economic conditions and advertising expenditure trends that could impact its performance. The company’s management believes that the out-of-home advertising market remains attractive, given its unique advantages in visibility and engagement compared to other media forms.
About OUTFRONT Media Inc.
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