Ooh Media secures long term contract with Brisbane City Council
Ooh Media has secured a long term agreement with Brisbane City Council, following its acquisition of outdoor business, Adshel.
The announcement:
oOh!media Limited (ASX: OML) announced today that it has secured a long term agreement for the Brisbane City Council street furniture contract, following its acquisition of street furniture and transport Out of Home company Adshel.
On 28 November 2018 oOh! announced, in response to media reports, that it had been informed that the Brisbane City Council had voted to approve the contract with Adshel, however binding documentation had not been executed. oOh! is pleased to confirm that binding documentation has now been executed.
The contract extension win of the highly-valued and strategic Out of Home assets will see oOh! operate a network of more than 800 bus shelters for a contract period of ten years with a further two year option, commencing on 1 March 2019.
oOh! CEO Brendon Cook said: “This contract win is an important part of our expanded Out of Home offering for advertisers following our acquisition of Adshel to expand into Street Furniture and Transit.”
“The Brisbane City Council street furniture contract has been one of Adshel’s key strategic contracts for the past 20 years and we now have a great platform to build upon and further leverage.
“We will be working with the Brisbane City Council to ensure that the network caters for the fast-growing Brisbane population. We will also be investing in growing the number of digital screens within the next few years, from the 100 digital screens currently part of the network.”
Mr Cook said Brisbane City Council was an important market for advertisers, with the largest Local Government Area in the country, having a population of more than 1.2 million and catering to 70 per cent of all employees in Greater Brisbane.
“This network provides advertisers with an opportunity to reach 2.6 million people a fortnight and combined with our wider Out of Home offering will ensure advertisers are absolutely Unmissable.”
Source: Lighthouse Communications
