Top 7 Facts about Advertising in Times Square

/ / Digital Signage, OOH/DOOH, Technology

Times Square is a major commercial intersection, tourist destination, and one of the most iconic neighborhoods in New York City known for its many billboards and advertisements.

With more than 360,000 people passing through Times Square every day, it’s no surprise that companies spend millions of dollars annually to showcase their products and generate brand awareness for their business.

Times Square Advertising. Image from koreaboo.com

We’ll take a look at 7 awesome things about Times Square from an advertising perspective:

1. How much does it cost to place an ad in Times Square?

How much it costs to advertise in Times Square will depend on a variety of factors, including the media format, billboard size, exact location and visibility of the ad, and the duration of the campaign. Generally, billboard prices can start from $5,000 per day as the minimum required, and go up to $50,000 per day.

When it comes to Times Square advertising, it’s important to remember that one of the biggest reasons the prices are so high compared to billboard prices elsewhere is the amount of visibility the company gets.

This visibility can provide tremendous brand awareness that is hard to get with just a billboard in a regular place, and many businesses are willing to pay huge sums of money for it. But let’s see how much visibility companies advertising in Times Square expect.

2. How many ad impressions does a Times Square ad generate?

According to NYC’s Times Square, more than 360,000 people visit this attraction each day, a number that can reach 450,000 on the busiest days of the year. While the global pandemic recorded smaller numbers over the past 2 years – between 125,000 and 190,000 daily pedestrians, they are still quite impressive.

Average daily visitors to Times Square from 2017 to 2020. Source: timessquarenyc.com. Times Square Advertising.

This means that companies that dedicate a budget to advertising in Times Square can expect to get at least 200,000 daily impressions if each visitor sees their ad at least once. For a campaign duration of 2 weeks, that would amount to an incredible 2,800,000 impressions for this location.

For example, a billboard priced at $7,000 per day that runs for 1 year will generate 150,000 million impressions (considering 400,000 impressions per day), bringing the price per impression to 1.7 cents.

To illustrate, here are the costs per impression for the other Marketing and Advertising channels:

  • Facebook: average $0.0071 cents per impression ($7.19 per 1,000 impressions)
  • Instagram: average $0.0079 cents per impression ($7.91 per 1,000 impressions)
  • LinkedIn: average $0.00659 cents per impression ($6.59 per 1,000 impressions)
  • TV broadcasts: average $0.0126 cents per impression ($12.60 per 1,000 impressions)
  • Magazines: average $0.0084 cents per impression ($8.24 per 1,000 impressions)
  • Billboard: billboards placed elsewhere in the US range between $0.02 and $0.05 per impression

3. Which billboard is the most expensive in Times Square?

The largest and most expensive billboard in Times Square is the 125,000-square-foot screen on 1535 Broadway, which is eight stories high. It was rented for the first time by Google in 2014 for an incredible $2.5 million over four weeks of display time, and continues to be one of the most iconic ad spots in Times Square.

Source: timeout.com

4. Why is Times Square full of ads?

Times Square was full of advertisements due to thriving tourism and high traffic in the area, with an average of 360,000 pedestrians per day before the global pandemic. Combined with leading media coverage of New Year’s celebrations, seen by a wide audience each year, its tremendous visibility opportunities for businesses make it one of the most valuable public advertising spaces in the world.

In fact, one of the first videotrons on the tower (in 1997) revealed a net income of $7 million per year for advertisers, which prompted more and more companies to start spending budgets on Times Square advertising.

5. What is the average size of a Times Square billboard?

According to Business Insider, one of the most surprising facts about Times Square is that the average billboard has more square feet than the average New York City apartment. To put things into perspective, the average size of a Times Square billboard is 2,013.25 square feet, while one-bedroom apartments in New York barely exceed 784 square feet.

This is very impressive, and demonstrates the enormous visibility that advertising in Times Square brings to companies willing to invest a lot of budget in it.

6. What was the first ad ever in Times Square?

According to Wikipedia, it all started with the first ever advertisement in the One Times Square Tower, which was installed in 1996 by Cup Noodles and featured a truly eye-catching steam effect on a billboard. Later, it was accompanied by an animated Budweiser sign, and soon more companies followed including ITT Corporation, Panasonic, Sony, General Motors and many others.

Two years later, Discover Card replaced the company ITT as the main sponsor and operator of the most popular display in One Times Square, securing a 10-year deal. The company is also the official sponsor of the New Year’s Eve 2000 celebrations in Times Square.

Times Square Advertising: the first advertising billboard by Cup Noodles in 1996.

7. Who rents advertising media in Times Square?

Times Square advertising is covered by many companies, including ABC Supersign, American Eagle Times Square, Branded Cities, City Outdoor USA, Clear Channel Outdoor, Express Screen, Neutron Media, New Tradition, Outfront Media, and many more. To rent digital screens, billboards, full motion digital displays, and Marketing events based on the Times Square experience, you can contact one of these individual sign holders.

As we mentioned earlier, the price for advertising will depend on a variety of factors, and one of them is the particular medium that you will use to rent the advertising medium because each of them will have different options to offer.

Seperti yang kami sebutkan sebelumnya, harga untuk iklan akan tergantung pada berbagai faktor, dan salah satunya adalah media tertentu yang akan Anda gunakan untuk menyewa papan iklan karena masing-masing dari mereka akan memiliki pilihan yang berbeda untuk ditawarkan.

Source : https://mktoolboxsuite.com/times-square-advertising/

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