Already something similar in Cleveland
The new Cleveland Browns stadium has a display on the outside on both ends. The format is more bumper-sticker shaped, so you can't play clips from any normal programming, but they have moving ads on there all the time. And you can see them from the two busiest entrances to downtown. Very distracting during morning rush hour, especially in the winter when it's still dark during rush hour.
[link|http://www.clevelandbrowns.com/stadium/browns_vision.php|Official word]:
Two other ProStar boards are mounted on the outside of the Stadium. Measuring 90 feet long and 25 feet high they are the largest animated display boards in the city.
How big is 90' x 25'? Almost [link|http://www.daktronics.com/photo_detail.cfm?cc=cc03035|this big].