Exterion Media has beaten JCDecaux to win Transport for London’s (TfL) advertising network contract – estimated to be worth around £150m a year.
The partnership will see advertising spaces being sold on trains and at over 400 stations across TfL’s network, which supports over 30 million journeys a day – and for the first time will combine advertising space across London Underground, London Overground, Tramlink, Docklands Light Railway, Victoria Coach Station and, once it is operational, the Elizabeth line.
The decision to combine the advertising assets into one rail contract is part of TfL’s commercial plans to maximise its assets to generate non-fares revenues, which it will reinvest in the transport network for the benefit of Londoners. TfL currently aims to generate £3.4bn in commercial revenue by 2023, with this contract alone contributing an estimated £1.1bn.
“We believe this partnership can be a catalyst for transforming our stations and the wider industry,” said Graeme Craig, director of commercial development at TfL.
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“The new contract will move away from the traditional concessionary approach to working together to deliver innovation and value on the best station network in the greatest city in the world.”
Shaun Gregory, CEO, Exterion Media, added: “This is a ground-breaking new partnership and together with TfL, we have a bold vision for the London Rail and Underground estate that will transform the look and feel of advertising in the Capital, and the way that brands engage with consumers.
“We look forward to making this vision a reality using our expansive industry expertise, advanced data and insights, and our innovative network of partners, all of which has contributed to making this one of the best monetised, and most valuable advertising contracts in the world.”
TfL aims to sign the contract in April 2016 with services under the new contract beginning on 1 October 2016.
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