The Singapore Land Transport Authority (LTA) has launched a public tender for the management and maintenance of bus shelters and their advertising spaces.
According to Gebiz, only tenderers with relevant experience in outdoor advertisement will be considered for the contract. Additionally, tenderers need to have a minimum share capital of SG$10million and minimum net assets of SG$10 million.
If tenderers are unable to comply with the second requirement, the company needs to provide a performance guarantee acceptable by LTA. Instead, the entity providing the performance guarantee needs to at least have a minimum share capital of SG$10 million and minimum net assets of SG$10 million.
Current major players in the OOH space in Singapore include JCDecaux, The X Collective (XCO), Mediacorp OOH Media, Moove Media, Clear Channel and SPHMBO, to name a few. Competition in the space is also heating up.
Earlier this year, JCDecaux expanded its OOH offering, introducing two new advertising formats at ION Orchard shopping mall. It also renovated the look of its Changi Airport Terminal 2 Arrival immigration halls advertising space and it struck a new advertising partnership with Suntec City. Meanwhile, in July this year, XCO launched eco-friendly OOH advertising papers and ink for its assets. It also partnered with Nielsen exclusively to offer marketers to engage consumers through surveys. Last year, the company also rolled out its first OptiMaX truck.
For Mediacorp OOH Media, the company partnered with Trans-cab Services to offer taxi advertising exclusively to add variety to its OOH platforms. It also bolstered its OOH offering through the launch of 2D illuminated lightboxes and ventured into cinema advertising. Clear Channel Singapore also launched its Play 2.0+ asset recently, in a bid to give advertisers more flexibility and reduce ad inventory wastage. Last year, Clear Channel won an exclusive five year contract to manage the bus-wrap advertising operations for bus operator Tower Transit Singapore.
Moove Media also added new offerings to its OOH arsenal. This includes its Moove Big Top bus in February this year and Moove Bling Bus in May last year. This followed a partnership it struck with new bus company Go-Ahead Singapore, for a period of five years.
Meanwhile, SPHMBO made several strides in boosting its OOH offering the past year. In July 2016, it re-launched a new indoor digital advertising screen at 313@somerset and set up OOH spaces at VivoCity. It also struck a partnership with South Beach Consortium to market a suite of digital advertising screens.