Media vehicles can attempt to corner the market; it is necessary to be aware of it if that happens.
In January, VeriFone Holdings announced its acquisition of Clear Channel Outdoor’s Taxi Media division. This move includes both the outside vehicle signage and digital advertising within the cabs in New York City.
VeriFone will now have a fleet of 11,500 cabs after adding in the 5,000 from Clear Channel. This places 90% of all New York City cabs under VeriFone advertising. The deal also allows the 20 Taxi Media sales reps to continue working but under the VeriFone name.
An interesting development will be seeing which TV station programming will be shown on the digital screens within the cab. VeriFone had been partnered with New York’s WABC and featured Eyewitness, News, AccuWeather, Reuters Business News, Zagat Survey content, People.com and PMbuzz.com. Clear Channel had been playing news, weather, entertainment programming, advertising, and public service announcements from NBC.
Media vehicles can attempt to corner the market; it is necessary to be aware of it if that happens. The acquirement can affect a current campaign if the advertiser was utilizing the purchased vehicle.
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