2023-05-31 19:07:50
The world number one in outdoor advertising, JCDecaux, is taking over the Italian and Spanish activities of its main competitor, the American giant Clear Channel. Bruno Levesque/IP3 PRESS/MAXPPP
DECRYPTION – Clear Channel, one of the leaders in the sector, is selling its European subsidiaries one by one.
It’s time again for major maneuvers in the outdoor advertising sector. The world number one, JCDecaux, has just taken over the Italian and Spanish activities of its main competitor, the American giant Clear Channel, held by funds. “Our objective is to develop the medium in these two very fragmented markets, by eventually increasing its market share from 6% to 10%”glide to Figaro the communications director of JCDecaux, Albert Asséraf.
With this operation of around 75 million euros, JCDecaux’s market share will be around 30% in both countries. In the first quarter of 2023, the French recorded a turnover up 6.9%, to 672 million euros, exceeding analysts’ expectations. And this, despite air traffic in China which is struggling to regain its pre-crisis levels.
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