Running the business · Comparison
Static vs Digital Billboards: Revenue, Cost and Rules (2026)
By Gabie Research · Updated Oct 12, 2026 · 8 min read
Short answer
A digital face earns about four to five times the revenue of a static face and costs two to four times as much to run, by OUTFRONT's 2025 filing. A digital face costs about $200,000 to convert or $260,000 and up to build. A static bulletin cost about $80,000 to $112,000. Pick digital for strong sites with enough local buyers. Keep static where the face already sells out.
- OUTFRONT says a digital billboard earns about four to five times the revenue of a static one and costs two to four times as much.
- Lamar's 5,500 digital boards are about 3.5% of its displays and made about 33% of its billboard revenue in 2025.
- Digital costs about $200,000 to convert and $260,000 or more to build. A new static bulletin cost $80,000 to $112,000 in 2025.
- Federal guidance says digital is acceptable on conforming signs. Ohio charges $625 to apply for a digital face, against $225 for a static face.
- In our example, a conversion pays back in about 5.2 years at 75% sold. It takes 7.1 years at 60% sold.
A digital billboard earns about four to five times what a static one does. It also costs two to four times as much to run. Those are OUTFRONT's numbers from its 2025 annual report (OUTFRONT 10-K). So ask a different question. Will one face earn enough extra to pay for the screen, the permit and the selling?
This guide compares the two side by side. Then it shows who should pick which.
How do static and digital billboards compare?
This table covers one face in the same spot. Figures come from public filings, state rules and trade reports. Our own math is marked.
| Item | Static bulletin | Digital face | Source |
|---|---|---|---|
| Ads on one face | One advertiser at a time | Six to eight advertisers share it | OAAA |
| Revenue per face | The base | About 4 to 5 times as much per display | OUTFRONT 10-K |
| One real face | About $3,000 a month | About $15,000 to $18,000 a month after conversion | Nareit, April 2025 |
| Share of a fleet | Most displays | Lamar: about 3.5% of displays, about 33% of billboard revenue (our math) | Lamar 10-K |
| Cost to build new | About $80,000 to $112,000 in recent reports | About $260,000 to $351,000 | Billboard Insider, OUTFRONT 10-K, Billboard Insider |
| Cost to convert a static face | Not needed | A little over $200,000 | Billboard Insider on Lamar |
| Permit fee in Ohio | $225 to apply; $125 to renew every two years | $625 to apply; $325 to renew every two years | Ohio Admin. Code 5501:2-2-05 |
| Permit rules | A nonconforming sign may stay as it is | Federal guidance says digital is acceptable on conforming signs | FHWA |
| Power | Lights at night (OUTFRONT) | 24,000 to 28,000 kWh a year, about $3,490 to $4,070 (our math) | Billboard Insider on Daktronics, EIA |
| Running cost | The base | About 2 to 4 times as much | OUTFRONT 10-K |
| Printing and posting | Printed vinyl, due 10 working days before posting | No production or installation charge | OAAA on bulletins, OAAA on digital |
| Life | Steel 50 years; wood 25 years | Screen 10 to 12 years, per one operator | NC Department of Revenue, Billboard Insider |
| How it is sold | Bulletins for 4 to 52 weeks | Spots in a loop, for one week to several weeks | Lamar 10-K, OAAA |
| Selling effort | One buyer per face | Six to eight buyers per face, and reps sell it constantly | Billboard Insider |
How much more does a digital face earn?
A lot more, on the best sites. Each public operator shows it in a different way.
| Operator | What it reports | Figure |
|---|---|---|
| OUTFRONT | Revenue per digital vs static display | About 4 to 5 times |
| Clear Channel Outdoor | Digital share of inventory and revenue | 8% of inventory, 44% of revenue |
| Lamar | Digital share of displays and billboard revenue | About 3.5% of displays, about 33% of revenue |
| Clear Channel Outdoor's CEO | Revenue lift of a digital sign | "4-5 times" |
Sources: OUTFRONT 10-K, Clear Channel Outdoor 10-K, Lamar 10-K, Billboard Insider.
These are averages for large operators, mostly in big markets. A small operator in a small market may see less. The lift comes from selling one face to many buyers. It needs enough local advertisers to fill the loop.
Clear Channel's CEO put its digital returns in the "high 20s to the mid 30s" (Billboard Insider). That is an internal rate of return, a yearly percent. OUTFRONT is on record wanting at least 20% on a new digital conversion (Billboard Insider).
What does each one cost?
A digital face costs more to build and more to run.
- Build. A new static bulletin cost about $80,000 to $112,000 in 2025 reports. A digital board adds a screen. In one worked example the screen alone was $250,000. See cost to build a billboard.
- Convert. Lamar's CEO said a conversion costs a little over $200,000.
- Run. OUTFRONT says digital costs two to four times as much to run. That includes variable costs that rise with revenue.
- Power. Digital uses 24,000 to 28,000 kWh a year, by Daktronics. At 14.53 cents per kWh, that is about $3,490 to $4,070.
Static has its own work. Printed vinyl is the most common method. OAAA says it must reach the plant at least 10 working days before posting (OAAA). Digital skips that step.
How do permits differ?
Digital is harder to permit. The first test is whether the sign is conforming. Federal guidance says digital screens are fine on conforming signs. It calls new technology on a nonconforming sign a "substantial change" (FHWA). Tennessee's rule says the state can't permit a changeable message sign on a nonconforming device (TDOT rules). OUTFRONT says about 75% of its US structures are legal nonconforming.
Fees can differ too. Ohio charges $625 to apply for a digital face and $225 for a static one. Georgia charges $0 to revise a permit for a digital conversion (GDOT). Hold times, spacing and brightness are also set by state. See digital billboard statistics for the hold rules in eight states.
This is a summary, not legal advice. Check with the agency before you build or sign.
What does upkeep look like?
Steel lasts. North Carolina's tax guide uses a 50-year life for steel structures and 25 years for wood. It shows a digital face keeping 25% of its cost by year 13. Steel keeps 74% at that age (NC Department of Revenue). One operator told Billboard Insider that screens last 10 to 12 years. At that rate, $200,000 of displays costs about $20,000 a year (Billboard Insider).
Makers back their screens. Daktronics lists a 10-year brightness guarantee and 12 years of parts support. Ask for the terms in writing.
What are the big operators doing?
All three public operators keep adding screens, but most of their boards stay static. Lamar built about 320 digital units in 2025. It plans about the same number in 2026 (Lamar Q4 call). OUTFRONT built or converted 103 US digital billboards in 2025, up from 89. Clear Channel added 71.
By our math, digital is about 3.5% of Lamar's displays and 5% of OUTFRONT's US billboards. It is about 5.8% of Clear Channel's US billboards. Static boards still make about two-thirds of Lamar's billboard revenue.
What can go wrong with a conversion?
Most trouble comes from the market, not the screen. Billboard Insider's 2025 tips list several risks (Billboard Insider).
- A false belief. Some think that if one digital face is good, two will be better. That is often wrong.
- Too many screens. Three digital boards within a mile can be a problem.
- Roads and buildings. Road projects can cut traffic. New buildings can block a board.
- Slow timing. A conversion may take more than three years from plan to screen.
Check the lease too. OUTFRONT says digital's extra cost includes variable costs that rise with revenue. If your lease pays the landowner a share, the landowner gets part of the gain. See billboard lease rates for the terms to check.
How is each sold?
A static bulletin goes to one advertiser at a time. Lamar rents bulletins for 4 to 52 weeks and posters for 4 to 26 weeks (Lamar 10-K).
A digital face sells spots in a loop. The OAAA says buyers can take a location for one week to several weeks. Messages can change weekly, daily or hourly. Digital can also be bought by software. Programmatic was 30% of digital out of home revenue in 2025 (OAAA). It was 2% of Lamar's outdoor business.
Selling takes more work. One operator told Billboard Insider that digital raises the cost of sales. Reps are always selling it (Billboard Insider). Try the digital loop calculator to see how a loop sets the plays each buyer gets.
Example: does a conversion pay back?
This is an example for face B-114 N at Riverbend Outdoor in Jackson, Tennessee. Every input is an assumption, not an average. It reuses the numbers in our digital billboard cost guide, and adds a selling cost.
The static face rents for $1,500 per four weeks and sells 80% of the time. That is $15,600 a year. The digital face has 8 slots at $1,000 per four weeks. The conversion costs $200,000, Lamar's figure.
| Slots sold | Digital revenue | Added profit per year | Simple payback |
|---|---|---|---|
| 60% | $62,400 | $28,024 | About 7.1 years |
| 75% | $78,000 | $38,632 | About 5.2 years |
| 90% | $93,600 | $49,240 | About 4.1 years |
Added profit is added revenue less three costs. Those are 17% for ground rent, 15% for selling and $3,800 for power. The rent share is Lamar's. The selling cost is our assumption. Our cost guide leaves out selling, so it shows 4.2 years at 75%.
Formetco's digital sales director gave advice on how full to plan a screen (Billboard Insider, 2022). He said to model digital at 60% to 70% sold, and never at 90% to 100%. The table shows why. The same screen pays back in 4 years or 7, depending on the slots you sell.
Who should pick static, and who should pick digital?
Match the format to the site and the market.
| Pick static if | Pick digital if |
|---|---|
| The face already sells out at a good rate | The site has heavy traffic and a clear view |
| The sign is nonconforming, or the permit won't allow digital | The permit allows a digital face |
| Your market has few local advertisers | Local buyers can fill most of six to eight slots |
| Other digital faces nearby struggle to stay full | You would be the first digital in the market |
| Ad rates in the area are low | Rates are strong and requests are many |
| You can't fund $200,000 or more | You can fund the screen and the extra selling |
The checklist comes from Formetco's digital sales director. He asked whether the site sits at a traffic light or on a four-lane road. He asked if it leads to businesses with many advertisers. If the market already has digital faces, he would hesitate to start with a screen (Billboard Insider, 2022).
Is there a middle path?
Yes. Build a new static board on a structure made to take a screen later. Billboard Insider's source said almost all the new structures it designs are digital ready. You pay for steel now. You add the screen when the permit and the market line up.
One in five Billboard Insider readers converted a static board in the past year. One in four expected to convert in the next year. Many operators are weighing the same choice.
Questions people ask
Is a digital billboard better than a static one?
It earns more but costs more and needs more selling. OUTFRONT says digital earns four to five times the revenue of static and costs two to four times as much. The best sites win. Weak sites may not.
How much more does a digital billboard make than a static one?
OUTFRONT says four to five times more revenue per display. Lamar's CEO gave an example in April 2025. A face earning about $3,000 a month static can earn $15,000 to $18,000 digital.
How much does it cost to convert a billboard to digital?
Lamar's CEO put it at a little over $200,000 in November 2024. OUTFRONT's average first investment per digital billboard was about $260,000 at the end of 2025.
Can any billboard be converted to digital?
Not always. Federal guidance calls new technology on a nonconforming sign a 'substantial change.' Tennessee's rule bars digital screens on nonconforming signs. Check your permit first.
How long does a digital billboard screen last?
One operator told Billboard Insider that digital displays last 10 to 12 years. Daktronics lists a 10-year brightness guarantee. Steel structures last far longer, 50 years in North Carolina's tax guide.
How is a digital billboard sold?
As spots in a loop. Six to eight advertisers usually share a face. The OAAA says ads change every six to eight seconds. A static bulletin goes to one advertiser for 4 to 52 weeks at Lamar.
Sources
- 01Form 10-K for fiscal year 2025 · OUTFRONT Media (SEC filing) · accessed Oct 12, 2026
- 02Form 10-K for fiscal year 2025 · Lamar Advertising Company (SEC filing) · accessed Oct 12, 2026
- 03Lamar (LAMR) Q4 2025 earnings call transcript (February 20, 2026) · Motley Fool via Yahoo Finance · accessed Oct 12, 2026
- 04Form 10-K for fiscal year 2025 · Clear Channel Outdoor Holdings (SEC filing) · accessed Oct 12, 2026
- 05Sean Reilly Talks Digital Billboard Economics (November 12, 2024) · Billboard Insider · accessed Oct 12, 2026
- 06Billboard Expansion, Strategic Acquisitions Drive Lamar's Success (April 22, 2025) · Nareit · accessed Oct 8, 2026
- 07Creating Value with Digital Billboard Conversions (February 14, 2025) · Billboard Insider · accessed Oct 12, 2026
- 08Reader Feedback on Digital Billboard Conversions (February 17, 2025) · Billboard Insider · accessed Oct 12, 2026
- 09Scott Wells: 20-30% IRR on Digital Billboard Conversions (March 12, 2025) · Billboard Insider · accessed Oct 12, 2026
- 10Britt McConnell On When to Build a Digital and When to do Static (July 29, 2022) · Billboard Insider · accessed Oct 12, 2026
- 11Who Wants to Get Paid and When During New Billboard Construction (January 21, 2026) · Billboard Insider · accessed Oct 12, 2026
- 12Reader Tips on Managing Billboard Construction Costs (March 3, 2025) · Billboard Insider · accessed Oct 12, 2026
- 13Daktronics on Digital Billboards, Electrical Usage and Overcoming Climate Objections (August 1, 2022) · Billboard Insider · accessed Oct 12, 2026
- 14Electric Power Monthly, Table 5.6.A: Average Price of Electricity to Ultimate Customers (released September 24, 2026) · U.S. Energy Information Administration · accessed Oct 12, 2026
- 15Digital Billboards · Daktronics · accessed Oct 12, 2026
- 16Digital Billboards (page published September 12, 2022) · OAAA · accessed Oct 12, 2026
- 17Bulletins · OAAA · accessed Oct 12, 2026
- 182025 OOH Facts & Figures: Ad Spend Performance (April 2026) · OAAA · accessed Oct 12, 2026
- 19Guidance on Off-Premise Changeable Message Signs (September 25, 2007) · Federal Highway Administration · accessed Oct 12, 2026
- 20Ohio Administrative Code Rule 5501:2-2-05, Permit applications, fees and renewals · State of Ohio · accessed Oct 12, 2026
- 21Ohio Administrative Code Rule 5501:2-2-02, Advertising device standards · State of Ohio · accessed Oct 12, 2026
- 22Rules of the Tennessee Department of Transportation, Chapter 1680-06-03, Outdoor Advertising (eff. May 14, 2024) · Tennessee Secretary of State · accessed Oct 12, 2026
- 23Outdoor Advertising Schedule of Fees (January 11, 2016) · Georgia Department of Transportation · accessed Oct 12, 2026
- 242026 Billboard Structures Valuation Guide · North Carolina Department of Revenue · accessed Oct 12, 2026
Billboard operations and sales research
The Gabie team studies how billboard companies price, sell and run their boards. Every number we publish links to its source.
Published Oct 12, 2026 · Updated Oct 12, 2026 · How we check facts