Transport for London (TfL) has launched a tender to find new partners to manage its roadside advertising estate. The tender is worth an estimated GBP 30 million over eight years.
The roadside advertising contract is part of TfL’s commitment to manage and develop its assets and generate revenue to reinvest in the transport network.
The new roadside advertising contract will grant a licence to one or more companies to manage approximately 200 advertising panels on TfL’s 580km road network, which is responsible for a third of all road journeys in London.
TfL’s transport network, including its roadside advertising estate, is responsible for 21 per cent of UK out of home advertising. The income TfL generates through advertising goes directly towards improving London’s public transport and TfL’s road network for passengers and all road users.
Graeme Craig, Director of Commercial Development at TfL, said: “Our transport network is responsible for around half of London’s out of home advertising and generates revenue that we reinvest back into the transport and road network and improve services for our customers.
“The contract presents a fantastic opportunity for advertising companies to join us in enhancing London’s out of home landscape, and we are seeking a partner to support our vision to transform our advertising estate, through modernising existing sites, increasing digital advertising and introducing a small number of new high value sites.”
TfL’s bus shelter advertising contract is also currently being tendered.