Clear Channel renews deal with TfL |
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Fri, 20 May 2005 17:40
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Clear Channel has won a £250 m contract to sell advertising on bus shelters in London. The company renewed the contract and signed a 10-year deal, which will cover 50% of TfL’s bus shelters. This deal will treble the revenue for Transport for London.
Julie France, group managing director of Clear Channel UK, was exultant at this news and said, “As the UK’s leading provider of advertising funded bus shelters we understand the key role that shelter infrastructure plays in shaping a world-class city’s image for tourists and residents, particularly in the light of the Olympic bid. As part of our submission we have proposed a range of state-of-the art bus shelters from leading designers including Richard Rogers and the introduction of high-tech information solutions at bus stops.”
| Chris Townsend, director of group marketing at TfL, said, " We are going to be looking at implementing fairly state-of-the-art bus shelters. Trebling and guaranteeing the annual return from the bus shelter business is unprecedented and demonstrates our ability to maximize revenues from our valuable advertising estates,” He added that this extra revenue would be reinvested in the London transport network.
In the run up to renewing this contract, Clear Channel overcame stiff competition from JCDecaux, Viacom Outdoor and CityLights London, a partnership between Maiden Outdoor and Spanish company Cemusa.
This deal will give Clear Channel a lion's share of London's six-sheet market since its six-sheet division Adshel has the other 50% of TfL’s bus shelters through a separate deal.
TfL will reward the right to sell advertising space on nearly 290 tube stations, the Docklands light railway and Victoria coach station later this year in a deal that will give it a £1.2bn windfall.
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