Cabvertise and Clear Channel join forces in taxi advertising deal

The proliferation of taxis on the streets of Dublin since deregulation has created a potentially lucrative outdoor advertising market which is already attracting interest from some of the industry's bigger players.

Clear Channel Ireland, a subsidiary of the giant US media group clear Channel Worldwide that operates in more than 50 countries, has just concluded a sales and distribution agreement with Dublin taxi advertising firm Cabvertise.

Cabvertise offers advertising space on the rear windows and back door of taxis.  The company was one of the first firms to realise the potential of the taxi format. 

Clear Channel will now be selling these spaces and offering the slots as part of its overall service to clients.

Cabvertise, chief executive Mr Peter Maguire, a familiar figure at Dublin advertising agencies, will manage the logistical side of the new arrangement.

Mr Declan O'Carroll, Clear Channel's business development director, said clients realised taxi advertising could deliver high visibility at the optimum time.

"These ads literally follow the audience," he said.  "With 75 per cent of taxi time spent in the city centre, they are a great way to achieve penetration in areas of the city where other media are scarce.

"Gridlock seems to be an unfortunate fact of life for commuters right now.

"The upside of this for taxi advertisers is a captive audience in traffic that reaches less than nine miles per hour at peak times," according to Mr O'Carroll.

Mr Maguire said he had carried out extensive market research on Cabvertise's offering and claimed the results showed up to 50 per cent ad recall.

One amazing statistic he has unearthed is that taxis, at least those who have worked with his firm, travel 4,000-6,000 km per month.

The alliance with Clear Channel should at least give the taxi advertising sector a higher profile and more scale.

Clear Channel Ireland is one of the Republic's largest outdoor advertising companies.  Its outdoor brands in the State include Adshel and More O'Ferrall.

Clear Channel Worldwide owns more than 1,200 radio and 37 television stations in the US and over 200 radio stations across the world.

Source:  Irish Times