Several of our clients have been asking us about Landmark Dividend. Landmark Dividend (https://www.landmarkdividend.com/) and its public subsidiary Landmark Infrastructure Partners (http://www.landmarkmlp.com/index.html), focus on acquiring ground leases for billboards, towers, and wind turbines. Landmark is aggressively seeking to purchase billboard leases from land owners for typically 8-10 times annual lease […]
Billboard Business
Five Questions for Darrin Friskney, Watchfire
Watchfire recently announced a ten-year uniformity guarantee and replacement parts warranty on their MX Class digital billboards. You can read the press release here. I interviewed Darrin Friskney, Vice President of Digital Outdoor and Marketing to learn more. Darrin’s contact info is: [email protected], (317) 650-7301 1. Darrin, tell us a little […]
Accounting for a 10 Year Digital Sign Life In A Land Lease.
Most billboard companies fail to account for sign replacement expenses in their projections. This is not a big issues with static boards which last 40 years. It matters however, with digital signs because they have a useful life of 100,000 hours or 11.5 years. If you exclude replacement costs you […]
Annual Lease Inflators Impact Billboard Values
The quickest way to destroy the value of a billboard is to agree to a bad lease with a high fixed minimum lease inflator. Inflation has averaged 2%/year for the past 10 years. Outdoor revenues have grown at approximately 1.8%/year for the past 10 years. If you agree to an […]
Which is better? A billboard loan or a billboard lease?
Is is better to finance your billboard or digital sign with a bank loan or with a financing lease? It depends on your objectives. A billboard loan is better if: You want long term financing (10 years or more). Billboard loans have terms of 10-15 years versus a 5-7 year […]
Outdoor revenue up 1% to $7 billion in 2014.
US Outdoor revenue rose 1% to $7 billion during 2014 according to the latest figures released by the OAAA. The following chart compares US outdoor revenues with us radio revenues and the US gross domestic product. The chart demonstrates that the US outdoor revenues have grown in line with the […]
Billboard Construction Costs
How much does it cost to construct a 14 by 48, two-sided, illuminated, 40 foot above ground billboard? My rule of thumb is $30,000 for wood structure, $60,000 for a steel monopole structure, and $350,000 for a digital billboard. The 2015 Billboard Structures Valuation Guides put out by the Departments […]
4 Tips For Dealing With Site Locators.
There are firms which obtain billboard permits and land leases and sell them for a fee. Most are legitimate but there are unscrupulous developers who will try to take advantage of you especially if you are new to the business. A billboard site seller has no skin in the game. […]
Out of Home Magazine and Out of Home Weekly will cease publishing.
Received an email from Emerson Schwartzkopf saying that out of home magazine and out of home weekly will stop publishing. Emerson did a great job and his publications will be missed. Here’s the text for his email: “Out of Home Magazine and Out of Home Weekly will cease publishing new […]
Reuters says Dealmakers turn sights to US Billboards
Liana Baker of Reuters has writes here that the big four outdoor companies are flush with money and looking to roll up small operators. Billboard values are rising. Outfront Media paid 10.8 times cashflow (EBIDTA) for Van Wagner versus an 8-10 times cashflow norm for the industry.
