TfL sees ad revenues jump as innovation bears fruit
Transport for London (TfL) is benefiting from increased advertising revenues which it attributes to a new embrace of innovative advertising platforms.
In 2017/18 the sector generated £152m for TfL's coffers, £10m more than the previous year, helped along by the introduction of 260 full-motion digital screens, digital ‘ribbons’ alongside escalators and 60 ‘cross platform’ variants for waiting passengers to gaze at.
The local government body now accounts for 20% of the UK’s total outdoor advertising market by value and is keen too capitalise on that presence through experiential advertising opportunities for brands, such as Netflix taking over its Oxford Circus and Old Street tube stations for Black Mirror and Stranger Things.
TfL customer director Chris Macleod said: “Advertising is one of the key ways that we are making the most of the commercial opportunities available, generating vital revenue for investment in improving the transport network for Londoners.
“We also continue to take great care to ensure that the adverts seen on our network are appropriate for our diverse audiences. We are extremely grateful to the Advertising Steering Group for their invaluable guidance and insight in this and many other areas.”
TfL is not pursuing greater advertising revenues at any cost, however, vowing to restrict adverts promoting food that is high in fat, salt or sugar from 25 February despite predictions that this will harm future revenues.