Toronto’s Outdoor Broadcast Network (OBN) has introduced new pricing and packaging for its 18-storey media tower in the city’s Dundas Square.
The new options let advertisers purchase the entire tower or certain sections, such as the top and left or right-hand side, for shorter periods. When the tower first opened in November 2004, OBN sought—and secured—three-year commitments for tower domination at an annual cost of $1.5 million. Bell Canada and L’Oréal Canada were among the charter advertisers.
According to OBN president Peter Irwin, the changes reflect the increase in ad inventory at Dundas Square created by the recent opening of Toronto Life Square—a retail, office and entertainment complex that also features advertising space.
“It’s a much more competitive environment and we’ve got to make this attractive to other advertisers,” he says. “And we have to be mindful of the current economic conditions. Clients are not at this juncture willing to lock into long-term deals.”
Samsung is the first advertiser to embrace OBN’s new packaging options, embarking on a six-week campaign for its wireless division.
Irwin says the new pricing and packaging enables advertisers to experience Dundas Square at a fraction of the previous cost. “Rather than having to commit and spend $1 million a year with us, they can come in and spend $100,000 or $50,000 and see what the Square’s all about,” he says. “It provides an accessible price point [for us to] demonstrate how great the Square is.”
