NOTE: BILLBOARDS CONTINUE TO HAVE A ROUGH TIME. NOW IS THE TIME TO RENEGOTIATE YOUR EXISTING CONTRACTS AND/OR GET GREAT DEALS ON NEW CONTRACTS. IF THEY’RE NOT SELLING IN THE HOTTEST BILLBOARD VENUE IN THE WORLD, THEY’RE PROBABLY NOT SELLING NEAR YOU.- DP
Times Square Sports Blank Billboards
Three blank billboards currently tower over Times Square; in the past, it was rare for a billboard to be vacant for more than a day, but these have been empty for about a month.
Ben Martish, a sales rep for Lamar, says he expects the signs to be booked within a matter of weeks, according to am New York. The asking price for the trio is $100,000 for four weeks, but Lamar is willing to negotiate, Martish says.
Now is a good time for media buyers to push for deals. Billboard prices are falling, points out Skip Jones, founder of out-of-home media company Media Lease. For example, a CBS Outdoor billboard on the Jersey side of the Holland Tunnel that used to go for between $20,000 and $40,000 is expected to rent for about $8,000 a month.
CBS Outdoor saw overall revenue slip 15.5% last quarter. Clear Channel Outdoor revenue slipped by about the same amount, as did revenue for the outdoor advertising industry as a whole.
The article cites “industry observers” who have noted that a number of Manhattan spots, including Houston Street, Midtown West and the Meatpacking District, are seeing billboard space moving slowly.