Ooh!Media has moved quickly to dispel suggestions the loss of Westfield's internal signage business would have an impact as the outdoor operator scopes a potential market float.
Scentre Group, the owner and operator of 47 Westfield shopping centres, announced today that it would be bringing sales for signage in the shopping centres in-house as part of a broader move to own advertising and marketing opportunities on its property through its media division BrandSpace.
Announcing the decision Bill Burton, General Manager of Scentre Group BrandSpace, said the company would be building an ever-changing offer for advertisers.
“The merging of these floor-based portrait advertising panel - which brilliantly engage shoppers on their path-to-purchase - with our large-format broadcast digital spectacular screens, experiential and product sampling opportunities creates a game-changing marketing environment for our clients, shoppers and retailers,” Burton said.
"Over the coming months we will work with our partners, brands and marketing agencies to understand their needs and provide them with more information on Westfield’s advertising opportunities. In Q4 we will formally engage advertisers through detailed product briefings and 2015 sales packages.”
While losing the contract for in-centre signage, Ooh! will continue to handle Westfield’s entry and car park portfolio, with more than 1000 panels, as well as its New Zealand centres.
Ooh! CEO Brendon Cook said even with the termination of the contract at the end of the year the company remained the largest player in the retail out of home sector.
“The retail environment is a growing and valuable channel for advertisers to connect with consumers near to the point of purchase, and through digital and other innovations we are helping brands really engage with shoppers,” Mr Cook said.
"We look forward to continuing this partnership and further realising the significant growth opportunity in Westfield’s external portfolio."
He said Ooh!Media's retail out-of-home offering will remain a key growth engine for the company into the foreseeable future, with new inventory and further digitisation of its assets which spans more than 500 shopping centres across the country.
The out of home company, which is 80% owned by Champ Private Equity, is reported to be scoping out a float.
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