When I first started this blog, I made a goal of writing at least once a week. I clearly didn’t keep up with this schedule as it’s been close to three weeks since my last entry! I do miss writing and I’ll have to be stricter about updating regularly :)
The past weeks have been busy, full of work, get together’s with friends and friendly and even a short trip to New York! Yes, New York – the land of bright lights, bustling streets and advertising heaven for marketers! New York has incredible energy; I’ve yet to visit a city quite like it! The marketer in me was in pure heaven – especially when I was in Times Square! We stayed not far from 42nd and 7th :) so I was able to visit almost everyday.
The first thought I had when I visited Times Square was “how much are these companies paying for this real estate?!” It was sensory overload – digital billboards streaming auto loop commercials, colour and lights left right and center. American Eagle, CNN, Toshiba, Samsung, Coca Cola, M&M, BlackBerry, Kia all competed for my attention. My curiosity was piqued… so I did some research.
Did You Know? (Information courtesy of Times Square Alliance)
- On any given day, you can expect around 350,000 people to walk through Times Square? On busier days, that number is closer to 460,000 people
- Another 115,000 people will pass through this area by car/bus
- People stay late – over 100,000 visit between 7pm – 1am
- This means advertisers can expect nearly 1.5 million impressions each day!
And now, the costs. The most recent article I could find on the topic is this one from Business Insider back in at the end of 2012. Who knows if the prices have changed since then! According to the article, advertisers pay between $1.1 – $4 million for an entire year. When I first saw this, I was really surprised. Yes, it’s a lot of money but doesn’t it sound cheap? Especially when you consider how much companies pay to advertise on TV during prime time or special events?
Anyway, thinking back now – I can’t recall many more names than the ones I listed above. I remember BlackBerry had a few spots, Pepsi had a long billboard of Beyonce (it was a traditional one – hard to see because of its location above a few digital ones), a few for Broadway shows and upcoming movies and a traditional one for Guinness that was in a really good spot except it was overshadowed by the digital ones. Oh and one of the rapper Nas, except I can’t remember whether it was for a brandy or scotch! If I think really really hard – I might be able to come up with a few more. But ask me what was on any of them, I wouldn’t be able to tell you a thing!