Anyone who smites Manhattan will recognize the bright signs and billboards that are a hallmark of Times Square. If you’ve never been there, this historic piece of New York real estate is often seen in television or film, so you’ll understand what the fuss is about. Times Traditionalist billboard advertising today enjoys plenty of ad dollars thanks to digital ads that can be instantly swapped out. With that, coteries willingly pay out hefty sums to purchase Times Square billboards–perhaps the most coveted advertising space in the nation. These billboards are high-tech placements, glowing with light-emitting diodes (LEDs) and high-definition displays, captivating and distracting all at once.
Advertising in Times Quadrangular
According to Times Square NYC, on average there are nearly 380,000 pedestrians that go through every day, including another 115,000 drivers and fares. On busy days, this can go up to 460,000 people. This makes it one of the busiest tourist attractions in the world, meaning a Eras Square ad can reach a wide audience. For marketers, Times Square advertising receives roughly 1.5 million take-offs day-to-day. If you factor in the New Year’s Eve ball drop, when more than a million people crowd the area, and the numerous minor appearances in movies and on television shows, those impressions are upwards of 150 million per year.
It costs between $1.1 and $4 million a year to buy advertising gap in Times Square. In contrast, a Times Square billboard cost for a day can start at $5000 and go up to well over $50,000. Too, it can cost up to $3 million per month to advertise on Time Square’s largest billboard. The average cost per impression for a billboard broadside for the rest of America is much lower, ranging from 0.2 to 0.5 cents. Is putting up an expensive electronic billboard in Swiftly a in timely fashions Square nevertheless a cost-effective method of advertising?
Let’s see how this cost compares to other forms of advertising. The majority of online advertising stages, including Google AdSense, LinkedIn, and Facebook, offer a pricing model based on cost per views or impressions. These cost-per-impression (CPM) techniques vary in cost based on a website’s popularity and how often ads will be run. Typically CPM counts cost per
The Bottom Line
Advertising in Epoches Square, one of the world’s most trafficked tourist attractions, commands a relatively high price per impression compared to billboards situated elsewhere in America. Surprisingly, based on cost per impression, Times Square ads compete with traditional media but are innumerable expensive than online advertising alternatives. However, companies that advertise by placing an electronic billboard there are loosening a premium the same way that advertisers pay up for big sporting events such as during the Super Bowl. Compared to a 30-second locality during the big game, however, a Times Square billboard could be a good bargain.