Times Out of Home Media has won the advertising rights of Patel Bridge in Mumbai in a bidding process that also involved outdoor agencies like Clear Channel, Jagran Engage, and Pioneer. The bidding process was adjudged by a Trust that handles competitive bidding. The contract is for a period of three years.
Commenting on the development, Times OOH CEO, Farid Qureshi, said, “We are really happy to bag this prestigious business. Patel Bridge is one of the costliest outdoor properties in not just India, but entire South East Asia. The size of the business is huge, we cannot disclose the amount as it is confidential.”
Qureshi further said, “We are targeting all products, clients and agencies. The cost of hiring this premium site is so high that nearly no one can afford to hire it for more than 10 days. The cost for hiring this site for 10 days ranges from Rs 20 lakh to Rs 24 lakh. Patel Bridge caters to heavy vehicular traffic to and fro South Mumbai, covering Marine Drive, Nariman Point and the Bombay Stock Exchange. Besides being a commercial hub of Mumbai, it is also a spot of leisure with the Chowpatty beach and the Gateway of India.”
“It offers the highest visibility and display options for morning and evening traffic and is best suited for all launches, IPOs and corporate advertising,” he added.
Giving the dimensions of the prime location, Qureshi said that the length of the evening traffic side was 147 feet by 12 feet, while for the morning traffic side it was 127 feet by 12 feet. He further said, “There will be two billboards, one facing north and the other facing south. We are planning to put up roller based ads that are reversible in the next two months or so.”