I am curious, does anybody have an idea of how often Billboards remain vacant for owners? I have read (I believe it was Frank’s) comments on how to keep them occupied, however; I have an idea of what to do w/ non-productive inventory.
I do not know anyone in the industry who I can talk to who can possibly answer my questions, without worrying that they might need to sign some sort of NDA to not go and run w/ the idea.
So… Pretty much a Chicken and egg issue. I need to find someone who has vacant billboards and wants to potentially figure out a way to monetize them, who can be trusted to handle their side of the business (billboards etc.) and I handle mine.
Thanks in advance,
I can only give you my observations from my local market right now:
The top interstate locations with great visibility and high traffic counts are pretty much rented 100% of the time, although the rate dips slightly in a poor economy like we have now. Ex: The sign that used to get $5,000/mo. and was rented 12 months of the year is still rented 12 months of the year but for $4,500.
Average interstate, secondary highway signs seem to be averaging 80% occupancy.
In the current recession, crappy signs are having very low occupancy, often 30-40% or less per year. These signs include:
-Local roads with low traffic. Especially for 10.6x36’ and larger bulletins on low traffic roads.
-Busy roads but goofy locations - too small, obstructions, too far from the road, can only see it for a second behind a sound barrier, etc.
-Locations in downtown low income areas.
Thank you, George!
I appreciate the comments, and any others some might be able to add.