Contracts & Investments
Australian fleet firm P2P investing in digital cab advertising
The company expects advertising to account for 25-30% of total revenues in a few years
Australian taxi fleet management company P2P Transport is investing millions of dollars in creating a secondary revenue stream for the business, tapping into the demand for outdoor advertising. The Australian Financial Review has reported that the company will pay Telstra $17 million over three years “for the telco to provide the hardware and network services required to enable real-time, targeted advertising to be displayed digitally on 900 P2P vehicles”.
P2P CEO Tom Varga was quoted stating that the new advertising division could account for 25-30% of revenue in a few years.
Advertisers will be able to control their own content to deliver specific messaging at particular times and locations. “For example, a restaurant could push out messages at lunchtime when workers are searching for food,” the report said. Telstra will be responsible for making and installing the screens on the vehicles, as well as the data connectivity.
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