Clear Channel Brings Data and Analytics Tool: RADAR

Clear Channel Outdoor Holdings Inc. CCO, a subsidiary of iHeartMedia Inc., recently launched ‘Clear Channel Outdoor RADAR' – an innovative tool for advertisers to better reach their target audience. Clear Channel has collaborated with mobile and data companies to track consumer behavior after observing and passing billboards.  

Clear Channel has partnered with ATT Data Patterns and Place IQ, which utilizes location data from apps to determine consumer behavior and Placed, which pays consumers to track their movements.

RADAR is a new suite of research, data and analytics tools, which will provide assistance to advertisers and advertising agencies to effectively plan and buy CCO's RADAR to reach target audience and measure the impact of their Out-Of-Home (OOH) campaigns.

Providing accurate mobile data to OOH advertisers, could shift buying patterns for advertisers from just purchasing physical locations to buying specifically targeted audience segments in ways that are easily incorporated into a brand's mobile media strategy.

A market research report by PWC shows that total global OOH advertising revenue stood at $36.32 billion in 2014 and is set to grow at a 4.6% CAGR to reach $45.37 billion in 2019. The growth in the global OOH advertising market is likely to have a positive impact on Clear Channel's revenues, especially with the advent with such innovative tools like RADAR.

Clear Channel is one of the world's largest outdoor advertising companies, with more than 650,000 displays in over 35 countries across five continents, including 43 of the 50 largest markets in the U.S. The company offers numerous displays worldwide to meet the advertising needs of its customers. These include a growing digital platform that presently offers over 1,050 digital billboards across 29 U.S. markets. Its International segment operates in 22 countries across Asia, Australia and Europe in a wide variety of formats.

Clear Channel carries a Zacks Rank #3 (Hold). Some other stocks worth a look include, YuMe, Inc. YUME, Acacia Research Corporation ACTG and Marin Software Incorporated MRIN. Both YuMe and Acacia Research sport a Zacks Rank #1(Strong Buy), whereas Marin Software sports a Zacks Rank #2 (Buy).

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