We recently compiled a list of the 10 Best Marketing Stocks to Buy Right Now. In this article, we are going to take a look at where Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) stands against the other marketing stocks.

According to estimates on Statista, advertising spending across the globe should clock a growth rate of 5.4%, reaching $1.4 trillion in 2029. 80% of the total ad spend will come from digital sources in 2029 with programmatic advertising capturing 85% of the total advertising market. TV and Video Advertising will have a third of the share in 2025 and almost 40% of ad spending will take place in the US. Players like Google and Meta are expected to shape the advertising market by offering new landscapes in this sector.

Advertising ETFs have generated returns of 3.04%, 2.65% and 21.66% for 1-month, 3-month and 1-year tenors. While big tech players pose a threat, there is immense potential to tap a constantly growing advertising pie that would benefit traditional players.

READ ALSO 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In

Our Methodology

For this article we picked 10 marketing stocks trending on latest news. With each stock we have mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

A busy street corner, with strategically placed advertisements to attract customers.

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO)

Number of Hedge Fund Investors: 31

Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) is an out-of-home advertising company that provides advertising services through billboards, including bulletins and posters, as well as spectaculars, which are customized display structures with videos, multi-dimensional lettering and figures.

The third quarter revenue increased by 6.1% y-o-y on a constant currency basis with CCO bagging a 15-year contract for roadside advertising in zones controlled by the New York MTA. Another recent deal concluded involves a 10-year partnership with Huntsville-Madison County Airport Authority. CCO is looking to boost its digital expertise in a bid to improve the outreach of its clients. It has also offloaded its Europe-North business which will provide it the necessary cash to repay its debt and at the same time enable CCO to focus on its growing segments like America and Airport. A higher order from Port Authority of New York and New Jersey airports along with greater demand for digital and printed billboards have led to higher-than-expected revenues for these segments.

Overall CCO ranks 1st on our list of the best marketing stocks to buy now. While we acknowledge the potential of CCO as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CCO but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

 

Disclosure: None. This article is originally published at Insider Monkey.