Outdoor media company APN Outdoor has signed a $65 million contract with the NSW government to provide advertising services on Sydney buses.
“We are committed to the continual development of our Transit portfolio and the Sydney Buses contract win plays a vital part of our broader strategy for this format,” says retiring APN Outdoor CEO, Richard Herring.
“As the predominant provider of transit advertising across Australia, there is no doubt that this win is of strategic importance to APN Outdoor and our identity in the advertising market. Sydney Buses is one of the largest outdoor contracts in Australia and securing it for a further five-year term is a credit to our tender response team.”
APN Outdoor has not announced the value of the contract but the NSW government’s tender site puts the ‘estimated value of goods and services over the term of the contract’ at $65,000,000.
The company has held the contract for more than two decades. The new term will involve the retention of nearly 2,000 buses across more than a dozen city depots including Brookvale, Waverley, Randwick, Leichhardt, North Sydney, Kingsgrove and Ryde.
Last month, the ASX-listed outdoor company announced an extension of its contract with the Public Transport Authority of Western Australia in Perth for 'rail and billboard assets,' and also won the Adelaide Metro contract covering advertising rights for nearly 900 buses, 24 trams and 136 train cars across the city and CBD.
APN Outdoor confirmed last month that Herring would depart the company in September after 13 years as chief executive. The move follows a failed $1.6 billion merger attempt earlier this year with competitor oOh!Media.