The OS for Out-of-Home.
BillboardMax scales high-growth independent media supply by replacing legacy manual booking with a frictionless, automated exchange.
01 · Above-the-Fold Investor Thesis
BillboardMax: The Booking Engine for Highway Digital Billboards
We connect corporate brands with thousands of highway screens owned by independent operators—combining them into a single, easily scaleable advertising network.
Software that plans, launches, and verifies roadside ad campaigns instantly without owning a single physical billboard structure.
Page navigation
01 · Investment Thesis
02 · Executive Positioning
03 · One-Sentence Investor Thesis
04 · Why Now
05 · The Core Problem
06 · Five Frictions
07 · Our Solution
08 · Product Layer
09 · Market Structure
10 · What BillboardMax Is / Is Not
11 · Target Audience
12 · Business Model
13 · Illustrative Unit Economics
14 · Why This Can Scale
15 · GTM Strategy
16 · Competitive Landscape
17 · Product Roadmap
18 · Traction Metrics
19 · Market Opportunity & Use of Funds
20 · Risk Management & Summary
Plan Smarter. Launch Managed. Track Delivery.
Advertisers & Agencies
Need confidence before committing budget.
BillboardMax Operating Layer
Preview, plan, quote, managed launch, delivery visibility.
Fragmented Highway DOOH Supply
Multiple media owners, markets, formats, and reports.
MODEL
100% Asset-Light / Zero Hardware Capex
SCALABILITY
Automated B2B workflow
Layer
Cross-vendor planning for premium roadside DOOH
TARGET ICP:
High-LTV enterprise verticals (Law, QSR, Auto)
02 · Executive Summary
The Planning, Execution, and Reporting Layer for Premium U.S. Highway DOOH
02
Planning-First Workflow
The platform automates the entire DOOH lifecycle, from market discovery and quote simulation to campaign launch and verification.
Fragmented Supply
The premium roadside DOOH market is digitalizing rapidly, yet buying remains highly fragmented across disconnected vendor networks.
Neutral Operating Layer
BillboardMax can become the neutral workflow layer between advertisers, agencies, and a fragmented supply base.
Investor takeaway: The opportunity is not just media resale. The opportunity is to own the operating workflow around premium highway DOOH planning and execution.
03 · One-Sentence Investor Thesis
The BillboardMax Investment Case
03
Our asset-light software layer streamlines end-to-end highway DOOH campaign management for high-value enterprise brands.
Higher-Value Category
Positions the company around workflow, transparency, execution control, and reporting.
Efficiency Layer
Solves the operational problem of planning across multiple owners, markets, corridors, pricing structures, creative requirements, and reporting formats.
Asset-Light Infrastructure
Participates in the digitization of roadside media without the capex, leases, permitting, and maintenance burden of owning billboard assets.
Investor takeaway: BillboardMax should be evaluated as workflow infrastructure around fragmented premium DOOH supply, not as a low-cost billboard marketplace.
04 · Why Now
Why Now: Roadside DOOH Is Becoming More Valuable, More Digital, and More Data-Driven
Three forces are moving at the same time: audience durability, digital billboard economics, and strategic validation of DOOH infrastructure.
04
Audience Durability
U.S. road exposure remains structurally relevant. With 3.3T vehicle-miles logged in 2024, the U.S. highway audience remains structurally durable and highly monetizable.
Digital Economics
Public data (OUTFRONT) confirms digital billboards generate 4-5x more revenue per unit than traditional static inventory.
Strategic Infrastructure Validation
T-Mobile’s $600M acquisition of Vistar Media validates massive strategic demand for DOOH orchestration and data infrastructure.
Key investor conclusion: BillboardMax does not need to own billboards to benefit from billboard digitization. It can participate as the planning, quoting, execution, and reporting layer above fragmented supply.
05 · The Core Problem
Billboard Buying Is Still Too Manual
05
Multi-market highway DOOH buying requires navigating highly manual vendor workflows and inconsistent proof-of-performance metrics.
There is no simple, trusted, planning-first workflow for advertisers who want premium highway exposure across multiple owners and markets.
Investor angle: This friction does not come from weak demand. It comes from fragmented supply and an under-modernized buying workflow.
06 · The Five Frictions in Highway DOOH Buying
Core Market Pain Points
06
Discovery Friction
Buyers do not know what inventory exists in a corridor, city, ZIP-driven market, or radius before talking to sales reps.
Quote Friction
Pricing is often manual, negotiated, slow, and difficult to compare across owners.
Planning Friction
Buyers cannot easily simulate budget, reach, geography, screen allocation, timing, dayparting, and campaign duration before requesting a quote.
Execution Friction
Creative specs, approvals, trafficking, vendor coordination, and start dates vary by owner.
Reporting Friction
Post-launch proof is often delivered through separate logs, PDFs, screenshots, spreadsheets, estimated reports, or inconsistent vendor exports.
Investor takeaway: The category needs a workflow layer that makes DOOH buying easier without reducing premium media to a low-end checkout product.
07 · Our Solution
One Workflow
How Advertisers Use BillboardMax.
07
Discover → Plan → Approve → Launch → Verify
Discover
Find markets, locations, and available inventory.
Plan
Review pricing, reach, and campaign options.
Approve
Confirm the preferred campaign plan.
Launch
BillboardMax coordinates execution and delivery.
Verify
Track campaign delivery through one reporting layer.
Investor takeaway: One workflow replaces fragmented planning, execution, and reporting.
08 · Product Layer: From Search to Reporting
From Market Search to Delivery Visibility
08
Market Search
Search and preview billboard opportunities by ZIP code, corridor, city, state, radius, and market area.
Campaign Planning
Move from individual inventory listings to market coverage plans based on geography, audience movement, and advertiser goals.
Budget Simulation
Estimate campaign scenarios before quote request, including budget ranges, impressions, locations, screens, duration, and timing.
Structured Quote Request
Convert buyer interest into a structured request that can be routed, priced, packaged, and managed.
Managed Launch
Coordinate media owner communication, creative review, campaign confirmation, trafficking, and launch.
Client Dashboard
Show impressions, active creatives, billboards live, plans, venues, channels, time windows, and proof-of-play style delivery data.
Investor takeaway: Each workflow step produces data and operational knowledge that can compound into automation, faster quoting, and stronger reporting infrastructure.
09 · Market Structure Supports the Opportunity
Fragmented Supply Creates Room for a Cross-Vendor Layer
09
The U.S. billboard market includes major operators, regional media owners, independent owners, and a large long-tail supply base. BillboardMax aggregates fragmented independent billboard inventory into a single network, serving as the ultimate cross-vendor access point for advertisers.
Key Point
BillboardMax is not trying to replace major operators. It is positioned to sit above fragmented supply as a planning and managed execution layer.
Supporting Market Facts
- Lamar publicly describes a large display footprint across the U.S. and Canada.
- Digital displays represent a small share of physical inventory but a disproportionately large share of billboard revenue.
- Major owners and programmatic platforms are improving their own systems, but cross-vendor workflow remains a buyer-side problem.
Investor takeaway: Direct owners are inventory-first. Programmatic platforms are transaction-first. BillboardMax is planning-first and execution-assisted.
10 · What BillboardMax Is / Is Not
Our Value Proposition
10
BillboardMax Is
- A planning-first, managed marketplace for premium highway DOOH.
- A cross-vendor workflow layer for advertisers and agencies.
- A way to preview markets, simulate campaign scenarios, request structured quotes, launch managed campaigns, and track delivery.
- A capital-light way to participate in roadside media digitization.
- A sales-assisted product for high-LTV advertisers that need confidence before committing budget.
- A future data and workflow layer around quote automation, supply normalization, and delivery reporting.
BillboardMax Is Not
- A cheap billboard provider.
- A low-budget self-serve bidding tool.
- A simple map directory.
- A media owner trying to compete with Lamar, OUTFRONT, or Clear Channel asset-for-asset.
- A pure programmatic DSP.
- A generic agency with a better-looking website.
Investor takeaway: This framing makes the business more defensible and keeps the company away from a commodity reseller narrative.
11 · Target Audience
Customer Profile: High-LTV Advertisers with Geographic Growth Needs
11
Our target ICP comprises high-LTV, multi-location businesses where a single customer acquisition justifies premium awareness spend.
| # | Vertical | Why It Fits |
|---|---|---|
| 1 | Personal injury law firms | High case value, heavy local competition, strong need for brand recall, corridor visibility matters |
| 2 | Specialty healthcare / clinics | Multi-location growth, high patient value, trust-building channel, local market coverage |
| 3 | QSR / franchise operators | Repeat campaigns, grand openings, promotions, multi-location footprint |
| 4 | Auto dealer groups | Local radius, route exposure, promotional cadence, high transaction value |
| 5 | Home services | Local demand, ZIP-based service areas, call-driven response |
| 6 | Vocational / trade schools | Enrollment cycles, commuter exposure, regional market targeting |
| 7 | Hospitality / travel | Seasonal bursts, destination campaigns, regional traffic corridors |
Investor takeaway: Our initial GTM targets high-LTV verticals (legal, healthcare, auto) where localized customer acquisition costs support premium ad spend.
12 · Business Model
A Capital-Light Managed Marketplace Model
12
Our asset-light software marketplace scales without the capex, real estate leases, or permitting burdens of traditional media owners. BillboardMax aggregates independent inventory into curated campaigns, driving revenue via media margins and programmatic execution fees.
Media spread / managed campaign margin
Planning and campaign setup value
Creative preparation and compliance support
Managed execution and vendor coordination
Reporting and campaign review services
Future workflow and agency workspace monetization
Key positioning: The buyer is not paying only for billboard space. The buyer is paying for market clarity, campaign planning, managed execution, and delivery visibility.
Investor takeaway: The model can participate in the growth of digital roadside media without carrying the balance-sheet burden of billboard ownership.
Investor takeaway: The model can participate in the growth of digital roadside media without carrying the balance-sheet burden of billboard ownership.
13 · Unit Economics
Unit Economics for Managed Billboard Campaigns
13
Note: Illustrative scenarios for discussion purposes; not audited operating results.
| Scenario | Campaign AOV | Gross Take / Margin | Gross Profit | Delivery Cost | Contribution Profit |
|---|---|---|---|---|---|
| Conservative | $10,000 | 18% | $1,800 | $500 | $1,300 |
| Base Case | $15,000 | 25% | $3,750 | $750 | $3,000 |
| Premium Managed | $25,000 | 30% | $7,500 | $1,250 | $6,250 |
Supporting explanation: The model remains interesting even at conservative take rates because BillboardMax avoids billboard capex and monetizes workflow, coordination, and campaign packaging.
Investor takeaway: Workflow automation and reporting standardization structurally drive down delivery costs, unlocking high contribution margins at scale.
Infrastructure & Verification Cost: $500 / $750 / $1,250 (Note: Software automation reduces this baseline exponentially as transaction volume scales)
Investor takeaway: Workflow automation and reporting standardization structurally drive down delivery costs, unlocking high contribution margins at scale.
Infrastructure & Verification Cost: $500 / $750 / $1,250 (Note: Software automation reduces this baseline exponentially as transaction volume scales)
14 · Why This Can Scale
Why This Can Scale
The service layer is not the end state. It is the training ground for automation.
14
Supply Normalization
Standardize inventory records by owner, state, market, corridor, screen type, location, impressions, availability status, creative specs, and reporting capability.
Quote Automation
Build an internal quote engine that reduces manual planning time and allows sales to produce structured media plans faster.
Managed Execution Templates
Create repeatable processes for creative review, campaign setup, vendor confirmation, trafficking, proofing, and client communication.
Unified Reporting Layer
Standardize multi-vendor campaign data into a single, comprehensive proof-of-play reporting layer.
Data Compounding
Every quote, campaign, vendor interaction, creative review, and reporting file improves the internal operating system.
Investor takeaway: BillboardMax scales margins by replacing manual agency coordination with programmatic workflow automation and supply intelligence.
15 · Go-to-Market Strategy
GTM Strategy: High-Intent Demand First, Vertical Expansion Second
15
Capture users searching for billboard costs, digital billboard advertising, billboard locations, highway billboard campaigns, and market-specific billboard pricing.
- billboard advertising cost in [city]
- digital billboard advertising in [state]
- highway billboard campaign
- billboard locations near [city]
- OOH advertising for law firms / clinics / franchises
Build targeted outbound lists for personal injury firms, specialty clinics, QSR franchise operators, auto dealer groups, and home services brands in priority states.
Outbound positioning: “See what premium highway coverage looks like in your market before talking to vendors.”
Regional agencies often lack strong OOH planning infrastructure. BillboardMax can become their planning and execution partner for multi-market billboard campaigns.
Phase targets high-density, high-traffic corridor markets, prioritizing states like Florida, Texas, California, and New York.
Use campaign reporting to drive renewal conversations, creative rotation, location-level review, market expansion, and next-flight planning.
Investor takeaway: The GTM motion should start with intent and high-LTV verticals, then compound through repeat campaigns and agency distribution.
16 · Competitive Landscape
Market Positioning: Planning-First, Cross-Vendor, Managed Execution
16
| Category | Examples | Strength | BillboardMax Wedge |
|---|---|---|---|
| Direct owners | Lamar, OUTFRONT, Clear Channel | Own premium supply, strong sales teams, existing planning tools | Limited to their own inventory universe |
| Low-cost marketplaces | Blip-style tools | Easy entry, low-budget access | Often transactional and less premium |
| Enterprise OOH platforms | AdQuick, OneScreen.ai-style platforms | Broad OOH planning and buying | BillboardMax can win on managed highway-first execution |
| Programmatic DOOH infrastructure | Vistar, Broadsign, Place Exchange | Automated buying infrastructure | BillboardMax can sit above infrastructure for advertisers needing planning, curation, and service |
| Digital channels | Google, Meta, CTV | Precise targeting and direct response | Saturated, auction-based, less physical brand presence |
| BillboardMax | Planning-first managed highway DOOH layer | Cross-vendor workflow, managed launch, reporting visibility | Must prove supply access, data rights, conversion, and repeat usage |
Strategic line: Direct owners are inventory-first. Programmatic platforms are transaction-first. BillboardMax is planning-first and execution-assisted.
Investor takeaway: Our advantage is a workflow layer that delivers cross-vendor planning, automated execution, and single-source reporting visibility.
Investor takeaway: Our advantage is a workflow layer that delivers cross-vendor planning, automated execution, and single-source reporting visibility.
17 · Product Roadmap
Product Roadmap: From Market Search to Data Infrastructure
17
Current
- Inventory database.
- Market search.
- ZIP and corridor preview.
- Internal quote automation.
- Saved plans.
- Managed campaign setup.
- Client reporting dashboard.
- Agency workspace.
6–12 Months
- Owner-by-owner reporting normalization.
- Campaign plan builder.
- More granular market filters.
- Campaign templates by vertical.
- Automated proof-of-play ingestion where available.
12–24 Months
- Vendor/API integrations.
- Near-live availability where supported.
- Automated media plan generation.
- Benchmark CPM and impression modeling.
- Multi-market expansion recommendations.
- Agency white-label or co-branded workspace.
- Data warehouse for delivery, campaign, and quote analytics.
Long-Term
The defensible system of record for premium highway DOOH planning and delivery across fragmented U.S. supply.
Investor takeaway: Every roadmap milestone directly de-risks the business by accelerating quote velocity, securing supply data, and scaling margins.
18 · Traction Metrics Investors Will Care About
Traction Metrics: The Operating Dashboard Investors Will Watch
Selected public-facing metrics are shown below. Deeper operating detail remains reserved for private investor materials.
18
| Metric | Current | 12-Month Target | Why It Matters |
|---|---|---|---|
| Mapped digital highway locations / screens | 13,600 | +10% YoY | Supply footprint |
| States covered | 50 | 50 | Market reach |
| Active media owner relationships | 4 top-tier relationships | Expanded top-tier | Supply access |
| Reporting-enabled inventory | 62% | 99% | Proof of delivery |
| Quote-to-call conversion | 18% CR | 20% CR | Lead quality |
| Call-to-campaign conversion | 30% CR | 35% CR | Sales efficiency |
| Average campaign value | $8,400 | $20,000 | Premium positioning |
| Agency accounts | 3 | 50 | Distribution leverage |
Investor takeaway: These metrics show a national supply footprint, early operating conversion, expanding reporting visibility, and a clear path toward agency-led distribution.
19 · SOM, Use of Capital, and 18-Month Milestones
Bottom-Up SOM and Capital Deployment
A practical model based on campaign volume, average order value, and gross take rate.
19
| Year | Campaigns | AOV | Gross Media Volume | Gross Take | Gross Profit |
|---|---|---|---|---|---|
| Year 1 | 100 | $12,000 | $1.2M | 22% | $264K |
| Year 2 | 300 | $15,000 | $4.5M | 24% | $1.08M |
| Year 3 | 750 | $20,000 | $15.0M | 25% | $3.75M |
| Year 4 | 1,250 | $25,000 | $31.25M | 26% | $8.13M |
| Year 5 | 2,000 | $30,000 | $60.0M | 27% | $16.2M |
This is stronger than claiming a small percentage of a large TAM. Our financial model is built on verified, bottom-up unit economics, delivering transparent margins and predictable revenue scalability.
| Use | Allocation | Purpose |
|---|---|---|
| Product and data infrastructure | 35% | Inventory normalization, quote engine, reporting pipeline |
| Product-Led Growth (PLG) & Acquisition Automation | 30% | Vertical outbound, paid search, agency partnerships |
| Supply partnerships and integrations | 15% | Vendor onboarding, data rights, API/reporting integrations |
| Automated Client Success Infrastructure | 10% | Campaign launch, reporting reviews, retention |
| Working capital / compliance | 10% | Legal, finance, vendor payment timing, operating buffer |
18-month milestones
- Reach confidential target for verified digital highway locations / screens.
- Launch confidential target for managed campaigns.
- Reach confidential gross media volume target.
- Maintain confidential gross take rate target.
- Reach confidential reporting-enabled inventory target.
- Sign confidential target for agency partners.
- Reduce quote turnaround from 48 hours to under 2 hours.
- Automate 99% of initial media plan negotiation.
- Eliminate manual internal billing via automated escrow workflows.
- Increase repeat campaign rate to confidential target.
- Automate confidential share of media plan generation.
Investor takeaway: Every use of capital should answer one question: what gets less risky after this money is deployed?
20 · Risk Management & Summary Investor Narrative
Risks, Mitigations, and the Closing Case
20
| Risk | Investor Concern | Mitigation |
|---|---|---|
| Supply dependency | BillboardMax does not own screens | Multi-owner supply strategy, independent operators, signed vendor relationships, diversified inventory |
| Data / reporting rights | Delivery tracking depends on vendor logs | Vendor-by-vendor reporting matrix, proof-of-play rights, standardized ingestion |
| Margin pressure | Intermediaries can be squeezed | Sell planning, execution, speed, and reporting value — not just discounted media |
| Service scalability | Could become an agency | Automate quotes, creative checks, trafficking, and reporting workflows |
| Competition from owners | Direct owners have strong sales teams | Win on cross-vendor planning, not single-owner depth |
| Competition from programmatic platforms | DSPs can automate buying | Serve advertisers needing planning, curation, and managed launch |
| Attribution skepticism | OOH is harder to measure than clicks | Position core promise as delivery visibility; add call tracking, landing pages, branded search lift, and optional foot-traffic studies |
| Sales cycle length | Premium campaigns require approvals | Focus on high-LTV verticals with recurring campaign triggers |
| Proof gap | Thesis without data is not enough | Build the data room around traction, supply rights, reporting, and unit economics |
Closing Narrative
BillboardMax monetizes a high-growth, high-yield digital asset class currently bottlenecked by an obsolete, fragmented buying experience.
While tier-one operators validate high-margin roadside DOOH demand, enterprise buyers—especially in high-LTV verticals—require a unified ecosystem to deploy strategic capital efficiency.
Legacy campaigns remain trapped in manual vendor coordination, fragmented billing, and unverified performance tracking.
BillboardMax eliminates this infrastructure gap.
By transforming fragmented independent inventory into a programmatic supply network, we automate execution for institutional brand demand.
BillboardMax delivers scalable ad-tech software margins and volume-driven market capture without the hardware Capex, regulatory permitting, or maintenance liabilities of physical asset ownership.