SpendscapeCompanies · out-of-home media
Lamar Advertising
Sell sideLAMR
Lamar Advertising brought in $2.27B of revenue in fiscal 2025, growing 8% a year over five years at a 34% operating margin.
$2.27Brevenue, FY2025
+8%growth a year, 5 years
34%operating margin
Revenue and margin
Bars: revenue, $B (10-K). Line: operating margin.
What they see in the market
What its leaders and filings say about the ad market: its own ad business, or the channels advertisers use, since 2019; counts are statements, not spending.
Out-of-home 148× since 2019Programmatic & display 17× since 2019Measurement 2× since 2026Sponsorships & athletes 1× since 2026Creative campaigns 1× since 2026AI in marketing 1× since 2019
- Out-of-home “We are meeting our customers where they are, including through our growing programmatic sales channel, and we're attracting new advertisers who appreciate out-of-home's NAC for standing out in today's increasingly fragmented media landscape.” Sean Reilly on the earnings call · Aug 13, 2026 · source
- Programmatic & display “Growth of more than 50% through our programmatic sales channel once again made it a bright spot, and programmatic accounted for approximately 10% of digital billboard revenue in the quarter.” Sean Reilly on the earnings call · Aug 13, 2026 · source
- Measurement “And they're increasingly getting comfortable with our ability to track results when they spend with us.” Sean Reilly on the earnings call · Aug 13, 2026 · source
- Sponsorships & athletes “So when you look at Lamar's footprint on the World Cup, we're not as well positioned to say OUTFRONT or Clear Channel, but we'll get our share.” Sean Reilly on the earnings call · Feb 20, 2026 · source
- Creative campaigns “They use a company called Crossix to prove out campaigns across all media and Crossix has developed a way to do attribution studies for our media, which again has helped pharma prove out the efficacy of using us to get their word out.” Sean Reilly on the earnings call · Feb 20, 2026 · source