Here are 1-3 brief analogies for Outfront Media:

• American Tower for outdoor advertising infrastructure.
• The Google or Facebook of physical advertising, like billboards and transit ads.

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Nick Brien, Chief Executive Officer

Nick Brien was appointed Chief Executive Officer of OUTFRONT Media in August 2025, after serving as Interim CEO since February 2025. With over four decades of global experience, he has held senior leadership roles in advertising, media, and digital marketing, including CEO positions at Amobee and Enthusiast Gaming Holdings Inc. Brien has also served in leadership capacities at Publicis, Dentsu, McCann Worldgroup, IPG Mediabrands, Hearst, iCrossing, Leo Burnett, Arc Worldwide, and Starcom Mediavest Group, where he was recognized for transforming organizations and leading them through periods of rapid expansion and change. He has been a member of OUTFRONT Media's Board of Directors since October 2014.

Matthew Siegel, Executive Vice President, Chief Financial Officer

Matthew Siegel has served as OUTFRONT Media's Executive Vice President and Chief Financial Officer since June 2018. Prior to joining OUTFRONT, he was Executive Vice President and Chief Financial Officer of CBS Radio Inc. from November 2016 to November 2017, where he managed all financial functions before its merger with Entercom Communications Corp. He also held senior finance roles at Time Warner Cable Inc., including Acting Co-Chief Financial Officer, Senior Vice President, and Treasurer, and served as Vice President and Assistant Treasurer at Time Warner Inc. His earlier career included finance positions at Insight Communications Company, Inc. and Joseph E. Seagram & Sons, Inc. During his tenure at OUTFRONT Media, the company secured $400 million in convertible preferred stock from Providence Equity and Ares Management to strengthen its balance sheet.

Jodi Senese, Executive Vice President, Chief Marketing Officer

Jodi Senese has been OUTFRONT Media's Executive Vice President, Chief Marketing Officer since April 2013, overseeing all aspects of marketing, including research, advertising, creative services, and new business strategies. She previously served as Executive Vice President, Marketing at OUTFRONT Media from 2001 to 2013. Her extensive experience in the out-of-home advertising industry includes roles as Executive Vice President, Marketing at TDI Worldwide Inc. (acquired by OUTFRONT Media's predecessor) from 1990 to 2001, and Vice President, Marketing at Gannett Outdoor (also acquired by OUTFRONT Media's predecessor) from 1988 to 1990. Senese began her career in sales at New York Subways Advertising Company (later acquired by OUTFRONT Media's predecessor) in 1981.

Andrew R. Sriubas, Chief Commercial Officer

Andrew R. Sriubas serves as OUTFRONT Media's Chief Commercial Officer. He joined the company in 2014 as Executive Vice President of Strategy & Development and was later promoted to his current role, where he is responsible for partnerships, product, digital operations, technology platform, client experience, and corporate & business development. Before OUTFRONT, Sriubas was Chief of Strategy and Corporate Development for Sonifi Solutions. He has over two decades of experience in investment banking, having held Managing Director positions at JPMorgan, UBS, and Donaldson, Lufkin & Jenrette, where he provided strategic advice and raised capital for Technology, Media & Telecommunications companies. He also played a key role in developing digital distribution networks for the U.S. movie theatre industry and satellite-deployed entertainment systems for the hospitality industry. He advises several emerging technology companies and serves on the board of Palisades Growth, a venture and growth fund.

Richard H. Sauer, Executive Vice President, General Counsel

Richard H. Sauer serves as Executive Vice President and General Counsel for OUTFRONT Media. In this role, he is responsible for legal affairs, including corporate governance, compliance, litigation, and transactional matters.

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Outfront Media (symbol: OUT) operates primarily within the out-of-home (OOH) advertising market, with its main products and services encompassing billboard advertising and transit advertising. The addressable markets for these services are predominantly within the United States and Canada.

U.S. Out-of-Home (OOH) Advertising Market

• The U.S. billboard and outdoor advertising market generated revenues of approximately $7.35 billion in 2023.
• In 2024, the U.S. OOH advertising market size was estimated at $9.1 billion to $10.34 billion. Another source reported $9.2 billion in 2024 and $7.87 billion.
• Projections indicate the U.S. billboard and outdoor advertising market is expected to reach approximately $13.35 billion by 2030, and the broader outdoor advertising market is forecasted to reach $16.72 billion by 2030. The U.S. OOH advertising market is also projected to reach $15.64 billion by 2032.
• The digital out-of-home (DOOH) segment within the U.S. OOH market accounted for 34% of total OOH ad spend in 2024. The U.S. digital billboards market was valued at approximately $13.6 billion in 2024 and is predicted to increase to around $30.5 billion by 2034.

Transit Advertising Market

• Globally, the transit advertising market was valued at $5.53 billion in 2023 and $24.5 billion in 2024. It is estimated to reach $35.2 billion by 2035.
• In North America, the transit advertising market was valued at $10 billion in 2024 and is projected to grow to $13 billion by 2035.
• Transit advertising was the highest revenue-generating segment within outdoor advertising in the U.S. in 2024 and is expected to remain the fastest-growing type through the forecast period.

Outfront Media (OUT) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

1. Continued Growth in Transit Advertising: The transit segment, particularly significant operations like the New York MTA, has been a strong performer and is anticipated to continue driving revenue. Outfront Media reported a 24% growth in transit revenue in Q3 2025 and anticipates mid-teens growth in transit revenue for Q4. This growth is attributed to successful campaigns with major brands across various sectors, including technology, finance, consumer packaged goods (CPG), pharma, and health, supported by a dedicated transit growth team and focused product marketing.
2. Expansion and Monetization of Digital Out-of-Home (DOOH) Assets: Digital transformation remains a central strategy for Outfront Media. The company has seen significant increases in digital revenues across both billboard and transit segments. Digital transit revenues, for example, surged over 50% in Q3 2025. The growth in programmatic and digital direct automated sales, which represented nearly 17% of total digital revenues in Q4 2024 and nearly 20% in Q3 2025, further underscores this driver.
3. Strategic Partnerships and Technological Innovation: Outfront Media's strategic partnership with AWS is aimed at enhancing media planning, buying, and measurement capabilities. This initiative is expected to create new sales opportunities by allowing agencies and brands to access, interact, transact, and measure their media in more efficient ways.
4. Optimized Billboard Portfolio and Improved Yields: While Outfront Media has strategically exited some marginally profitable billboard contracts, leading to temporary declines in reported billboard revenues, this move is intended to improve billboard adjusted OIBDA margins. The company expects billboard revenues to show low single-digit growth when excluding the impact of these exited contracts, indicating a focus on a higher-yielding, more efficient billboard portfolio. Billboard yield growth has also been driven by digital conversions and higher automated transaction revenue.
5. Targeting New Advertising Demand and High-Spending Categories: Outfront Media is focused on optimizing its sales strategies to drive new demand, particularly from non-out-of-home advertisers in high-spending industry categories. The company has noted that local sales have been a primary driver of growth in its U.S. media business. Additionally, Outfront Media expresses optimism about advertising opportunities related to major events such as the entertainment sector in 2026 and the upcoming World Cup.

Capital Allocation Decisions of Outfront Media (OUT) (Last 3-5 Years)

Share Issuance

• As of September 30, 2025, June 30, 2025, and March 31, 2025, Outfront Media had an at-the-market (ATM) equity offering program with $232.5 million remaining available. No shares were sold under this program during the first three quarters of 2025.
• Approximately 7.8 million shares of common stock could be required to be issued upon conversion of the outstanding Series A Convertible Perpetual Preferred Stock as of September 30, 2025, June 30, 2025, and March 31, 2025.
• A reverse stock split of the company's common stock was effected on January 17, 2025, impacting the diluted weighted average shares outstanding, which were 176.3 million for Q3 2025, 168.0 million for Q2 2025, and 166.4 million for Q1 2025.

Inbound Investments

• On April 16, 2020, Providence Equity Partners agreed to invest in Outfront Media.
• Outfront Media received $400 million in a Post IPO funding round on April 16, 2020.

Outbound Investments

• Outfront Media acquired 21 large format wall displays (18 static and 3 digital) in Detroit, Michigan, from Total Outdoor on December 22, 2021.
• The company completed the sale of all its equity interests in its Canadian outdoor advertising business on June 7, 2024, with the deal closing in 2024 for $410 million.

Capital Expenditures

• For the nine months ended September 30, 2025, capital expenditures totaled $64.0 million, marking a 6.8% increase compared to the same period in the prior year.
• Expected capital expenditures for the full year 2025 are approximately $85.0 million, with a primary focus on new and replacement digital displays, renovation of office facilities, and software. Approximately $35.0 million is allocated for maintenance.
• Capital expenditures in 2024 decreased by $8.7 million (10%) compared to 2023, mainly due to reduced spending on office facilities, software, and technology, partially offset by increased investment in digital displays and billboard upgrades.