The power of the Olympics effect on advertising is demonstrated by news from CBS Outdoor that digital out-of-home revenue in London is up 132 percent for the quarter compared to last year.
Across all the firm’s London assets – both digital and non-digital, but excluding the Westfield malls – revenue is up about 50 percent. All sites on London bus routes are “completely sold out”, says CBS Outdoor.
Meanwhile, RAM Vision has installed a large screen in the Stratford Centre in east London, an older mall near the new Westfield Stratford. While not enjoying the high profile of the Westfield site, the shopping centre is the main pedestrian route from Stratford to the new mall, the Olympic venues and the railway station.
Said Ilan Goldman, European director of mall owner Catalyst Capital: “This summer’s major sporting event is set to see footfall increase as pedestrians will go through the mall on the way to the new village. In 2012 we are expecting 24m visitors to the scheme, which shows a 14 percent increase on the established footfall of 21m in previous years.
“The iconic screen generates a new source of income for us and adds a point of interest in an area that had no standout focal point. RAM Vision has been extremely professional and commercial and we plan to continue this relationship into the future.”
Added RAM Vision’s commercial director Paul Masterson: “This screen provides a wonderful opportunity for advertisers to get involved in this summer’s activity, with its strategic position within a busy retail location adjacent to the Olympic site. It is perfectly placed, ensuring constant visibility with no obstructions to the line of sight.”