Carlton Communications announced today the acquisition of America’s largest cinema advertising company, Screenvision. The group, which already owns Carlton Screen Advertising, the largest cinema ads company in the UK, is to pay $93.3 million in the deal.
Screenvision accounts for over 65% of the US screen advertising market, selling ads in 32% of cinemas across Europe, with audiences of 44 million each month. Carlton hopes to develop the cinema advertising market in the US which currently takes only 0.1% of all display advertising.
Michael Green, chairman of Carlton, said: “Cinema advertising in the US has huge growth potential. The US box office has hit a thirty-year high, yet the advertising market is totally underdeveloped. Screenvision has a significant presence in America and we have the expertise to expand the business.”
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