Are billboards the next big thing in advertising?
While a seemingly old-school form of marketing, Scott Harkey, a longtime Phoenix advertising executive, is all in on billboards, or out-of-home (OOH) advertising. He has secured tens of millions of dollars to build the largest independent OOH operator in the country.
“We see a big opportunity to buy more assets in the markets we're in – Phoenix, Las Vegas, L.A., San Francisco, New York – and maybe others,” Harkey told the Business Journal.
Harkey Media, Harkey’s OOH advertising company, has been on an acquisition spree – spending at least $30 million on existing billboards from independent operators across the U.S. just this year. The company, which is separate from The Harkey Group advertising agency Harkey founded, is also building its own billboards and it even manages assets for other companies.
