Clear Channel Hit 102% Q1 Target In Digital Malls
Adrian J Cotterill, Editor-in-Chief
There are a couple of ‘gems’ from a rather upbeat RNS yesterday (no. 93370) in which Vision Media Group (International) PLC gave a trading update to the UK’s Alternative Investment Market.
- The development of the Company’s ten year contract with Clear Channel UK seems to be starting to bear fruit.
- VMG has now installed 50 Iconic Pod portrait panels into the Westfield shopping mall portfolio (and a few other shopping centres).
- For each new Iconic Pod installed Clear Channel has been achieving 102 per cent of the agreed quarter one target
- Total advertising spend on bookings received to date by Clear Channel exceeds the entire national sales shopping mall advertising revenue earned by VMG in 2008 (that may say more about how poorly they did in 2008 rather than how good they doing now but still nice stat)
- Available airtime for national advertising on its new portrait panels is sold out for March
Mike Cottman, Executive Chairman, of VMG told us “Our top line revenue streams, driven by our ground breaking ten year contract with Clear Channel, have begun delivering consistent and growing income … the Company remains optimistic that it can meet the current liquidity challenges of the next few months and trade through to reach the point in the Company’s history where it can develop sufficient cash to leverage the new model into a growing and profitable business.”
VMG admitted that “the installation process has been slower than planned due to the logistical challenges in gaining access to sites during the pre and post Christmas retail sale periods” but also said that “the remaining panels awaiting installation are now scheduled for roll out commencing in March 2009”.
BF Group Ltd (Stand #F39) is exhibiting for the first time at Screen Media Expo giving visitors the opportunity to showcase some of its elegant and sophisticated products. BF Group is giving centre stage to their new and exciting product – a black, 57-inch, double sided Architectural Sculptured Unit, designed to capture audiences with its unique and stylish look. The company will also be showing off their “Iconic Pod” which was produced for VMG and is currently being rolled out to shopping centres around the UK.
We understand that demand for the Iconic Pod panels has been brisk with national brands such as SkyTV, Unilever, Fox Films, 3-Mobile, “3” and UK Living all running campaigns. It seems to us that the UK media buying agencies are demonstrating an increasing appetite for using (all) digital panels (D6’s etc) as an accepted media format.