NEW YORK, Sept. 20, 2016 /PRNewswire/ -- OUTFRONT Media Inc. (NYSE: OUT), one of the largest out-of-home media companies in North America, announced today that the board of the Massachusetts Bay Transportation Authority (the "MBTA") has, subject to a definitive agreement, granted OUTFRONT Media the right to advertise on the MBTA's subways, buses and commuter rail. These new assets will include bus sides and subway media posters, and will be located primarily in Boston. The partnership will include the deployment of ON Smart, OUTFRONT Media's digital advertising platform, which will present new opportunities for the MBTA to scale its advertising revenue and provide intelligent communications to its riders.
"We're thrilled to be partnering with the MBTA to connect the city's transit system with OUTFRONT's dynamic technology solution and vast network of local and national advertisers," said Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media. "The MBTA team sees a future where digital signage powers a vastly more dynamic experience that will benefit both passengers and advertisers alike."
Boston is the eighth-ranked designated market area ("DMA") in the country. This partnership fortifies OUTFRONT's top-market focus, and will provide an opportunity for additional large scale implementation of the ON Smart platform. The MBTA will use new Liveboard digital displays to provide wayfinding and other information to its passengers, in addition to news and other engaging content.
Over the past 80 years, OUTFRONT Media has operated a best-in-class transit advertising solution. The support of OUTFRONT Media's sales organization of more than 700 people will bring strong relationships with local and national advertisers to the MBTA.
OUTFRONT Media currently sells advertising for over seventy transit authorities including Los Angeles, New York, Washington, D.C., Atlanta, Detroit, and Miami.
About OUTFRONT Media Inc.
OUTFRONT Media is one of the largest out-of-home media companies in North America with a leading presence in top markets throughout the United States and Canada. We have a diverse portfolio of billboard, transit and digital displays reaching mass audiences, as well as a distinct offering of prime assets impacting select markets. As part of our recently launched ON Smart Media platform, we are developing hardware and software solutions for enhanced demographic and location targeting, and engaging ways to connect with consumers on-the-go.
Cautionary Statement Regarding Forward-Looking Statements
We have made statements in this press release that are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the use of forward-looking terminology such as "will" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. You can also identify forward-looking statements by discussions of strategy, plans or intentions related to our capital resources, portfolio performance and results of operations. Forward-looking statements involve numerous risks and uncertainties and you should not rely on them as predictions of future events. Forward-looking statements depend on assumptions, data or methods that may be incorrect or imprecise and may not be able to be realized. We do not guarantee that the transactions and events described will happen as described (or that they will happen at all). The following factors, among others, could cause actual results and future events to differ materially from those set forth or contemplated in the forward-looking statements: implementing our digital display platform, and the MBTA's deployment of digital advertising, may be more difficult, costly or time consuming than expected and the anticipated benefits may not be fully realized; declines in advertising and general economic conditions; competition; government regulation; our inability to increase the number of digital advertising displays in our portfolio; our ability to obtain and renew key municipal contracts on favorable terms; content-based restrictions on outdoor advertising; seasonal variations; our ability to contribute certain contracts to a taxable real estate investment trust subsidiary; and other factors described in our filings with the Securities and Exchange Commission (the "SEC"), including but not limited to the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2015, filed with the SEC on February 29, 2016. All forward-looking statements in this press release apply as of the date of this press release or as of the date they were made and, except as required by applicable law, we disclaim any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors of new information, data or methods, future events or other changes.
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SOURCE OUTFRONT Media Inc.