Outfront Media recently secured a 10-year contract with the Metropolitan Transportation Authority (MTA) for advertising space on New York City`s buses and subways. The deal, which is worth an estimated $1.4 billion, is the largest of its kind in the world.
As part of the agreement, Outfront Media will provide the MTA with state-of-the-art digital displays that will feature dynamic advertising content. The displays will be capable of displaying real-time information such as train schedules and weather updates, in addition to traditional advertising messages.
Outfront Media`s CEO, Jeremy Male, said in a statement that the deal “underscores our commitment to providing innovative solutions that enable advertisers to connect with consumers in the most impactful ways.” He added that “our new digital displays will offer advertisers unprecedented flexibility and creativity, providing a dynamic canvas for their brands to come to life and capture the attention of millions of daily commuters.”
The MTA has been working to modernize its transit system, and this deal with Outfront Media is part of that effort. The agency aims to improve the rider experience and generate additional revenue through advertising sales. The partnership with Outfront Media also includes a revenue-sharing agreement that will provide the MTA with a portion of the advertising revenue generated from the displays.
The new digital displays are expected to be installed gradually over the next few years. The MTA has stated that it will work with Outfront Media to ensure that the displays are placed in the most effective locations on buses and subway cars.
Overall, this contract between Outfront Media and the MTA represents a significant step forward for the transit agency as it seeks to modernize and improve its services. The innovative digital displays will offer advertisers new opportunities to reach millions of daily commuters, and generate additional revenue for the MTA. It will be interesting to see how this partnership evolves over the next decade and how it impacts the New York City transit system.