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Times OOH Media bids Rs 250 cr to bag Mumbai Airport rights

Times OOH Media bids Rs 250 cr to bag Mumbai Airport rights

Author | exchange4media News Service | Thursday, Mar 08,2007 8:31 AM

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Times OOH Media bids Rs 250 cr to bag Mumbai Airport rights

Mumbai International Airport Pvt Ltd (MIAL) has agreed to consider granting the license for advertisement rights at Mumbai’s Chhatrapati Shivaji International Airport (CSIA) to Times Innovative Media Pvt Ltd (TIMPL), a wholly-owned subsidiary of Entertainment Network (India) Ltd (ENIL), which operates the Radio Mirchi network. The contract was won at Rs 250 crore. The total revenue generation from this project would be in excess of Rs 350 crore.

According to analysts, Mumbai Airport is India’s largest airport with passenger traffic of nearly 16 million. The license involves designing, setting up, development and maintenance of the advertising opportunities for a period of three years, and covers more than 7,000 display opportunities ranging from hoardings around terminals, approach roads to the terminals, the terminal buildings and aerobridges.

Commenting on the development, A P Parigi, Director, TIMPL, said, “We are delighted with the fact that we have won the license for the advertising locations of India’s largest airport, the CSIA (domestic and international). Coming close on the heels of the win of the Delhi International Airport, Times OOH Media now offers an audience of the size 30 million, which accounts for over 50 per cent of air passengers in India.”

He further said, “Airports are the modern gateways of India. This, combined with the rapid growth of infrastructure like expressways, Metro, shopping malls and multiplexes, provide a quantum leap in the number of consumer touch points through out-of-home media advertising, thus making Times OOH Media one of the fastest growing media players in India and the largest corporate in the OOH segment.”

As reported earlier by exchange4media, the Delhi Airport advertising contract was won by Times Innovative Media Pvt Ltd in February 2007.

Also see:

Times OOH Media bids Rs 150 cr to bag Delhi Airport outdoor contract

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