JCDecaux ends its advertising contract for the Port Authority of New York and New Jersey (PANYNJ) airports
Paris, October 29th, 2020 – JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that following a competitive tender, it has not renewed the advertising contract of the four New York and New Jersey airports, John F. Kennedy, LaGuardia, Newark Liberty, and New York Stewart airports.
JCDecaux held the PANYNJ advertising contract for over 30 years and is proud of the media programs the Group successfully implemented over three decades. JCDecaux is widely recognized as the number one worldwide in airport advertising in terms of innovation, professionalism and service quality.
The world is still suffering from the effect of COVID-19 where stringent health measures continue to affect the movement of passengers through airports. During this lockdown period, the historic drop in air travel, as well as severe economic uncertainties, led companies to react immediately and reduce their advertising spend at an unprecedented scale. Currently, passengers from over forty states in the U.S. have travel restrictions in place when entering New York or New Jersey and are also subject to a wide-ranging international travel ban. Even after travel restrictions are lifted it is anticipated that there will be a significant lag before travel recovers to pre COVID-19 levels.
Since the onset of COVID-19, JCDecaux has taken immediate and dedicated action on operating and financial levers to mitigate this decline and preserve cash, including but not limited to rent reliefs, aggressive cost management, reduced capital investment, tight control over working capital requirement and dividend cancellation. As the global leader in airport advertising, JCDecaux remains committed to this important out-of-home channel, however, the Group will not move forward with an agreement that does not make financial sense in the current climate.
Key Figures for JCDecaux
2019 revenue: €3,890m, H1 2020 revenue: €1,075m
Present in 3,890 cities with more than 10,000 inhabitants
A daily audience of more than 890 million people in more than 80 countries
Leader in self-service bike rental scheme: pioneer in eco-friendly mobility
1st Out-of-Home Media company to join the RE100 (committed to 100% renewable energy)
JCDecaux is listed on the Eurolist of Euronext Paris and is part of the Euronext 100 and Euronext Family Business indexes
JCDecaux is recognised for its extra-financial performance in the FTSE4Good index and the MSCI and CDP 'A List' rankings
1,061,630 advertising panels worldwide
N°1 worldwide in street furniture (517,800 advertising panels)
N°1 worldwide in transport advertising with more than 160 airports and 270 contracts in metros, buses, trains and tramways (379,970 advertising panels)
N°1 in Europe for billboards (136,750 advertising panels)
N°1 in outdoor advertising in Europe (636,620 advertising panels)
N°1 in outdoor advertising in Asia-Pacific (260,700 advertising panels)
N°1 in outdoor advertising in Latin America (69,490 advertising panels)
N°1 in outdoor advertising in Africa (22,760 advertising panels)
N°1 in outdoor advertising in the Middle East (15,510 advertising panels)
For more information about JCDecaux, please visit jcdecaux.com.
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