Canary Wharf has handed Ocean Outdoor the rights to all of its digital advertising hoardings in a £30m deal.
Ocean will retain exclusive rights to sell 40 full-motion digital screens and one large-format full-motion screen, and develop the Canary Wharf advertising channel across a variety of formats.
The new contract will replace Ocean’s previous sales and marketing arrangement with an agent of Canary Wharf Group, which was awarded in January 2020. Instead it will establish a bilateral relationship with the owner of the 16.5m sq ft estate.
Ocean has operated the large-format Reuters screen which is positioned just outside Canary Wharf Tube station for more than 10 years. But plans are in place to expand the “digital out-of-home” network further, in time for the arrival of Crossrail in 2022.
Ocean CEO Tim Bleakley said: “Canary Wharf is iconic, unique and its out-of-home audiences are peerless. Bringing the DOOH channel together under a single operator allows us to expand on the work already under way and double down on those efforts as we move forwards towards recovery and out of the pandemic.”
Canary Wharf director of marketing Leanne Peters said: “We chose Ocean Outdoor as they know the Canary Wharf estate well through their innovative work for the large digital screen at Reuters Plaza. They have excellent credentials as a large-format specialist in landmark locations such as Canary Wharf and we are excited to see what they can deliver for us and our audience of residents, workers and visitors on the estate.”
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
