OUTFRONT Media Inc. (NYSE: OUT) announced this week that it has (again) been awarded the advertising franchise for the Washington Metropolitan Area Transit Authority. OUTFRONT Media has operated the current contract since July 2014. The new contract will commence July 2020 with an initial 10-year term and two subsequent five-year extensions at Washington Metropolitan Area Transit Authority’s option.
Jeremy Male, Chairman and Chief Executive Officer of OUTFRONT Media told us “We are excited to be continuing our successful partnership with Washington Metropolitan Area Transit Authority, and the addition of 1,500 new Liveboard digital displays to the Metrorail system will enhance both the ridership experience and the advertising opportunities. Washington, D.C. is an extremely important and technologically forward market, and this digital expansion complements similar media networks in New York City, Boston, Minneapolis and San Francisco. We look forward to growing this important resource for Washington Metropolitan Area Transit Authority and its customers.”
Washington, D.C. is the sixth largest market in the U.S. according to Nielsen Media Research, and the Washington Metropolitan Area Transit Authority network of 1,100 railcars and 1,648 buses supported 295 million passenger trips in 2018.