MUMBAI: Over 1.5 million Mumbaikars have already taken the metro in its inaugural week. Mumbai Metro One Private (MMOPL), an arm of Reliance Infrastructure and Mumbai Metro’s operator, has already grabbed the attention of commuters with the one month promotional fare of Rs 10. According to a national daily, MMOPL has so far mopped up a revenue of 1.15 crore.
It won’t be wrong to say that the metro has added an interesting transit media options for brands. It is known that Times OOH has the advertisement rights of metro for a period of 15 years. It can be noted that the agency also has the advertising rights of Delhi Metro.
There are multiple advertising opportunities available currently at the first line of Mumbai metro. With 147 digital signboards, 375 static units at the 12 stations along with pillar wraps brands can also opt for train wraps and naming rights for the stations.
Ultra Tech cement and Jenburkt pharmaceuticals are first takers of Mumbai metro’s in-metro and train wraps advertising inventories.
Times OOH managing director Sunder Hemrajani said, “Our learning from Delhi metro has been enriching. We will be taking key insights while executing strategies for the new Mumbai metro line.”
There are conversations between the outdoor concecossionaire and brands to offer customised packages to capture the right target audience and achieve maximum impact. The agency has also pointed out that BSFI, FMCG and local retail brands are showing the maximum interest in advertising on these available inventories.
It is for the first time in India that digital screens will be used to its maximum in a transit media set up. The agency is in talks with digital screen suppliers and these are expected to go up in two months time.
Is it worth the money?
According to industry sources, though Times OOH is providing customised ad packages for brands, a few inventories are highly priced. For instance, source have said that for naming rights for the stations, rates are that are being negotiated are around Rs 25 lakh 50 lakh per month with a five year lock-in.
A marketing head of a real estate brand mentions that though a few inventories look promising, conversations are still going on to get a reasonable rate for short term campaigns.
Also, while Mumbai Metropolitan Region Development Authority (MMRDA) and Reliance are still disputing over charging higher fare rates, many marketers believe if ticket prices do move north, the move might dissuade commuters from taking the Metro. And if that happens, Times OOH could well end up taking a bumpy ride.