The pace of the switch to digital is but the least of several areas of disagreement between the two men. JCDecaux boasted in February that it had overtaken Clear Channel to become the worlds largest out-of-home ad company, with revenues of 2.4 billion last year. It is rare that a European media company is bigger than an American one, says Mr Decaux. Because his group is less indebted than the others, Mr Decaux says it could consider buying the American operations of CBS Outdoor, the world number three, or indeed those of Clear Channel itself, if the opportunity arose.
Mr Eccleshare dismisses such provocative talk, noting that Mr Decaux has repeatedly talked of big acquisitions in Americawhere it is a weak number four in the marketwithout anything happening. He acknowledges that there will be consolidation in the highly fragmented industry, though he expects it to take place within, rather than across, national borders. For instance, China has 60,000 out-of-home advertising firms, many of them microbusinesses with one or two signs, and is clearly ripe for rationalisation.
Clear Channel is so optimistic about digital posters because it believes they offer enormous potential for making advertisements more effective. Advertisers can tailor their pitch to the time of day: McDonalds can advertise its sausage and egg McMuffin at breakfast time, change to its regular Big Mac fare at lunch and follow that with ads for apple pie and ice cream during teatime. They can also react to events as they happen: when Spain won the football World Cup last year, digital billboards in Madrid, sponsored by Nike, showed the result within seconds.
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