Terms of the deal were not disclosed, but the companies said the multi-year agreement--the first between a global advertiser and an outdoor media company--will enable them to work together more efficiently and strategically in the design, development, and placement of billboards, signs, and other outdoor elements in support of Coke's marketing efforts.
"I believe our partnership with Clear Channel Outdoor will help us improve the way we plan and execute outdoor advertising, a form of communications we have used to speak to consumers throughout our 120-year history," stated Scott McCune, vice president-integrated marketing at Coca-Cola Co., adding: "In fact, this partnership could not have been timelier for us, as we are in the process of launching globally our new Coke Side of Life brand marketing communications campaign, which relies heavily on creative outdoor executions."
The deal comes as Madison Avenue is becoming more focused on out-of-home media, and as the out-of-home media companies vie for greater global reach. In recent weeks, both Clear Channel and rival CBS Outdoor have been expanding their presence in international markets.
Paul Meyer, global president of Clear Channel Outdoor, said that while the deal is global, Clear Channel would be working with Coca-Cola within local markets to develop outdoor ad strategies utilizing combinations of billboards, street furniture, and transit displays.