Tricon Media, a Delhi-based outdoor agency has bagged exclusive advertising rights for 50 public utilities in Ludhiana.
The deal will work on the Build-Operate-Transfer (BOT) model, as part of which the Municipal Corporation of Ludhiana, the concessionaire for this deal, will receive a monthly license fee. Though construction of these 50 public utilities will be accomplished by June this year, five utilities will be ready to be leased out to advertisers by the first week of March.
contract is valid for seven years, after which the utilities will be transferred to the Municipal Corporation. These public utilities will be located in Ludhiana's prime localities, including Ferozpur Road, G T Road, Railway Station, Model Town and Saraba Nagar. The total area per utility will be 450 sq ft. Seventy five per cent of the exterior of these utilities will have backlit displays for advertisements.
Aman Kumar, director, Tricon Media tells afaqs!, "Winning bids has become an expensive proposition with many players in the market. In the time of slowdown, brands focus on using innovative media, available at reasonable prices, to reach the target group. We have done this on the Delhi-Gurgaon Expressway on NH 8, where we have taken up boom barriers at the toll collection counters to advertise for our clients, which include Coca Cola, Garnier and HDFC."
Though Kumar did not share the license fee to be paid to the Municipal Corporation, he shared that the agency will spend approximately Rs 2.7 crores on the construction of 50 public utilities.
He adds that winning this bid has helped the agency to strengthen its inventory. According to Kumar, clients today are more interested in short-term contracts, which can be renewed on a monthly basis.
For the record, Tricon Media started its operations five years ago. It offers a wide range of innovative media choices like boom branding, metro smart cards (used in DMRC), cinema branding and traditional media like wall wraps, unipoles and utilities. The agency is present in Delhi and Gurgaon and plans to expand to South India.