Prakash Arts, Leadspace Advertising bag ad rights in Hyderabad Metro corridors
By M4G Bureau - April 09, 2018
The sole rights for Corridor 1 has been given to Leadspace Advertising and Corridors 2 & 3 to Prakash Arts for the duration of 2 years
L&T Hyderabad Metro Rail has allotted the advertising rights for the metro network’s 3 corridors’ civil structures to two different companies based in Hyderabad. Ad rights on Corridor No. 1 which is the longest route has been given to Leadspace Advertising and the rights on Corridors No. 2 & 3 to Prakash Arts. The contracts have been given for 2 years of duration with a clause of extension as allotted by L&T India which handles the media on BOT basis.
Confirming the news, H V Surendranath, COO, Prakash Arts shared, “We have got the sole rights for two corridors which have got 880 pillars with backlit panels. These corridors span from arterial roads and junction lying in residential areas to corporate areas of the city; catering to a mix of audience. Being in the middle of the road, this format attracts huge attraction of the masses and advertisers”.
“However, the challenge is that L&T India has given the contract at a premium price which come a little heavy on budgets. Therefore, we are expecting support from the clients to make it a profitable proposition”, said Surendranath.
Wherein Anil Reddy, GM-Sales & Marketing, Leadspace Advertising, shared, “We already have a premium set of media in Hyderabad in our kitty and this is also one of the significant value addition in our business offerings as the Corridor no 1 is one the longest stretches which covers all the important retail area junctions and corporate locations”.
This is the first time L&T India has allotted the sole right tenders for the metro pillar advertisement whereas earlier the media owning firms were empanelled to conduct the advertising operations.
Currently, there are 24 stations running out of the total and 20-30 more stations are expected to be operational by the end of this year wherein the entire metro network will get operational by 2020.