In a media first, the Mumbai Metropolitan Regional Development Authority (MMRDA) has selected Big Street as the out-of-home (OOH) advertising company for Mumbai’s first-ever ‘skywalk’. The deal is for a period of 10 years, and sources inform that the OOH agency has coughed up Rs 79 crore to secure this deal. Big Street officials didn’t respond to exchange4media’s calls or mails till the time of filing this story.
Other media owners competing for the business till the end were Jaikumar Asociates and Supri Outdoor Media, who had bid Rs 51 crore and Rs 36 crore, respectively. The bid for this 1.3 km Skywalk that connects Bandra station with Kalanagar had attracted 16 players, of which six players – Times OOH, Supri, Big Street, Rajdeep Publicity, Jaikumar Asociates, and DS Mittal & Das Offshores – had been shortlisted.
Many got out of the race in the earlier stages itself. The bid included a minimum upfront payment of Rs 13.68 crore. This is the first time when the MMRDA had asked for 10 years’ payment upfront from the media owners. The company that wins the advertising rights will also foot all additional costs that include building two lifts, CCTVs, basics like water tanks, lavatories, 10-year bills of security maintenance and electricity.
Six players in the fray for Mumbai Skywalk contract; winner to be declared this week