Vision Media Group, formerly ScreenFX has finally announced what we told you back on 23rd January 2008, that it has reached an agreement with Clear Channel for the latter to sell national screen media on VMG’s Mall Networks.
RNS Number:7724P Vision Media Group (Intl) PLC 11 March 2008 released to the City this morning was entitled ‘National screen advertising agreement finalised with Clear Channel Outdoor UK’ and we think it is going to be one of the defining media buying moments of 2008.
It’s a great ten year commitment between the parties – no new news there though as that length of commitment was announced on 10 January 2008 when VMG had to say that they had, at least a big announcement, in the offing.
The commitment is for the procurement of advertising across VMG’s nationwide mall network of digital screens and importantly will support all future malls that VMG develops going forward.
Barry Sayer, CEO of Clear Channel Outdoor UK, said in the RNS “As market-leader we are constantly looking at ways of improving our portfolio to ensure we provide our customers with the most flexible and innovative advertising solutions. Our current expansion into interactive and digital technologies is complemented by our partnership with VMG who are committed to developing the UK’s premier digital mall network.”
Dominic Brookman, CEO of VMG, said in the same press release “Shopping centres are effectively high-streets with a roof over the top and the high footfall within them is a valuable audience for advertisers. Our partnership with Clear Channel is a first for the UK outdoor advertising industry and we are delighted to be working with such a prestigious company. We have now successfully executed our vision of outsourcing national sales to the industry leader and are confident that this agreement will be the turning point in the Group’s financial performance.”
Dominic has got it spot-on there – this is the first time in Europe that a newbie screen media company has done a deal of this size with one of the traditional big five Outdoor players.
We believe this announcement is very good for the industry and the Mall sector in particular.
Rumours are that Avanti Screen Media are re-working the look and feel in their Mall network, people also seem to forget that Avanti recently won Bluewater (the largest in Europe) and we do know that they too have big plans for the shopping mall sector.
What with CBS Outdoor also likely to win a Shopping Mall contract (against stuff opposition from Clear Channel, Titan and others) AND better still to make that an almost completely digital screen based proposition – the whole Shopping Mall sector should be a lot more attractive for Media Planners, Buyers, Ad Agencies and Brands in 2008.
Maybe 2008 will be the ‘Year of the Mall’ in the UK!!