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Outfront Media (OUT) Partners with New York-Based Waltz

Outfront Media Inc. OUT announced an investment in a digital payment system start up company, named Waltz. This partnership is in line with its strategy to improve transit ecosystem and is likely to interlink digital advertising experience with mobile payment systems to create an innovative transit experience.  

New York-based Waltz is working on a smart mobile-focused transit fare payment system for efficient transaction. The smart and digitalized payment systems will be highly beneficial to the riders. It will not lower the operating expenses for transit systems significantly, but open up revenue opportunities for the operators.

Outfront Media is a leading provider of out-of-home advertising space in key markets throughout the U.S., Canada, Mexico and South America. With billboard and transit advertising displays, the company provides advertising services to diverse industries across the 25 largest markets in the U.S. and more than 180 markets in the U.S, Canada and Latin America.

The company is of the opinion that mobile payments systems at turnstiles will help transit advertising partners to draw greater audience and ensure seamless payment solution in future. Currently, Outfront Media sells advertising for more than 70 transit authorities, which include Los Angeles, New York, Washington, D.C., Atlanta, Detroit, San Francisco, and Miami.

Outfront Media currently carries a Zacks Rank #3 (Hold). Investors interested in the REIT industry may consider stocks like DCT Industrial Trust Inc. DCT, Easterly Government Properties, Inc. DEA and Douglas Emmett Inc DEI. Each of these stocks holds a Zacks Rank #2 (Buy).

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OUTFRONT MEDIA (OUT): Free Stock Analysis Report
 
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