Pundits are calling the Olympics a media bonanza for outdoor owners.
On April 4th the start of an official bidding system will be launched for Olympic Outdoor sites.
The official auction of the outdoor sites alone is likely to raise in excess of £250m for the various outdoor owners with positions within the London Organising Committee of the Olympic Games and Paralympic Games’ cordoned off marketing zone.
The seven official tier one sponsors - adidas, BMW, BP, British Airways, BT, EDF and Lloyds TSB – and 11 worldwide partners will have first option to bid on the outdoor inventory, with wider sponsors being offered anything that doesn’t sell, and any subsequent remaining sites being offered to general bidders.
Though premium Olympic sites, many with six and seven-figure reserve prices, will be sold to the highest bidder, Locog has set rules for the outdoor sale – 2010 prices plus 11% - for standard sites to protect brands from escalating prices.
Ahead of this auction will be the launch of the London's biggest outdoor screen. ‘The London Gateway’, located on Hogarth roundabout – on the central route from London to Heathrow and the M4 - is being offered for a 12-month period, which includes the time before, during and after the games, with a reserve price of £675,000.
Read full report Media Week 25/03/2011
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