TIDMOOUT
Ocean Outdoor Limited
10 May 2021
10 May 2021
Ocean Outdoor Limited
("Ocean" or the "Company" or the "Group")
Ocean Outdoor Wins Prestigious Outdoor Media Contract for St
James Quarter Edinburgh
Ocean Outdoor Limited (LSE: OOUT), a leading operator of premium
Digital Out-of-Home ("DOOH") advertising in the United Kingdom, the
Netherlands, the Nordics and Germany, is pleased to announce that
it has been appointed outdoor media partner for the prestigious St
James Quarter GBP1billion regeneration project which is due to open
in Scotland's capital city this summer.
Ocean was awarded the 10-year digital out of home advertising
contract following a competitive pitch with a lifetime contract
value of GBP25 million.
This represents Ocean's first contract with global asset
management company Nuveen which part owns and developed St James
Quarter, a 1.7 million square foot urban resort and global tourist
destination in the historic centre of Edinburgh.
Edinburgh is a UNESCO World Heritage city which restricts
opportunities to connect with consumers via out of home
advertising. As a channel, Ocean's St James Edinburgh network will
be irreplicable, offering advertisers unique opportunities to reach
residents, visitors and tourists.
Under the terms of the contract, Ocean will have exclusive
rights to sell and market the unique network of 35 digital screens
including two large scale full motion locations. All of the screens
will be located within the flagship development.
Ocean CEO Tim Bleakley said: "This is an exciting win which
draws on the expertise of Ocean's content-led strategy, backed by
technology and audience research, to provide immersive brand
experiences and events which create a dynamic environment for
residents, visitors and tourists. St James Quarter will
revolutionise Scotland's retail and leisure offering and Ocean
looks forward to playing our part in partnership with Nuveen."
This is Ocean's second major contract win in Scotland following
its acquisition of Forrest Media in June 2018. In May 2019, the
company was awarded long term agreements with City Property
(Glasgow) Investments LLP, working in partnership with Glasgow City
Council to redevelop and introduce new roadside and city centre
digital advertising screens.
The addition of St James Quarter to Ocean's Scotland portfolio
provides extensive cover via 125 screens across 66 city centre and
roadside locations in three cities - Edinburgh, Glasgow and
Aberdeen.
This ongoing investment meets demand for premium outdoor
advertising space in a significant year for Scotland which sees
Glasgow host four UEFA Euro 2020 games in June. The championship is
Scotland's first appearance at a major finals since 1998 and the
Ocean network has content rights to show highlights of selected
games.
The year culminates in November when Scotland hosts the 26(th)
UN Climate Change Conference COP26. An estimated 30,000 leaders and
delegates representing 197 countries are expected to convene in
Glasgow for the most important global climate event since the Paris
Agreement 2015, putting Ocean's large format digital network centre
stage as a branding platform and commercial opportunity.
COP26 is preceded by a four day TED summit to discuss climate
change to be hosted by Edinburgh in October, giving delegates for
both events an opportunity to visit St James Quarter.
A world class example of city-enhancing placemaking, St James
Quarter will help move Edinburgh further up the UK retail rankings,
from 13th to 8(th) , and will support the city's tourist industry,
which contributes an estimated GBP260 million to Edinburgh's
economy each year.
Anchored by John Lewis and more than 80 other leading retail
brands, the landmark destination provides 850,000 square feet of
prime retail space, restaurants, hotels, a cinema and private
apartments on five floors.
ENDS
About Ocean Outdoor
Ocean operates some of the most prestigious digital out-of-home
(DOOH) locations in the UK, Northern and Continental Europe. The
Group portfolio includes 4,000 screens in seven countries and more
than 350 cities.
In the UK, Ocean operates the most iconic DOOH locations
including the BFI IMAX; the Landsec Piccadilly Lights; and has a
significant presence in the top 13 UK cities. Ocean's high-profile
landlords and partners include Birmingham, Manchester, Glasgow and
Southampton City Councils, Landsec, Unibail-Rodamco-Westfield, the
BFI and Intu. A continued focus on Ocean's Digital Cities for
Digital Citizens philosophy has significantly augmented the Group's
position as an operator of high quality DOOH assets. Ocean
continues to deliver good organic development through new City
tender wins, the rollout of new locations in Scotland, London, the
West Midlands and Manchester and significant screen investment.
Strategic acquisitions that complement the existing DOOH
portfolio remain a strategic pillar of the growth programme. This
continued with three Dutch acquisitions in spring 2019, giving the
company a significant share of the Netherlands market where it has
become a major DOOH player. These subsidiaries have since been
rebranded as Ocean Outdoor Netherlands.
In September 2019, Ocean acquired the assets of Visual Art, a
Sweden based independent, pure-play DOOH media and tech group which
operates in three Nordic countries (Sweden, Norway, Denmark) and
key cities in Germany. This transaction expands Ocean's portfolio
across 23 Unibail-Rodamco-Westfield shopping malls in Europe, in
addition to holding the exclusive external rights to two of the
largest premium urban shopping malls in Europe: Westfield London
and Westfield Stratford in the UK.
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