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DMG signs ad deal for metros
By Ding Yining |
February 26, 2009, Thursday
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Print Edition
Print Edition
DIGITAL Media Group yesterday announced they signed an agreement with Shanghai Metro Television Co to gain the exclusive right to operate in-train and platform digital advertising on Shanghai's metro lines for the next five years.
Both parties declined to reveal the contract value, but DMG could earn as much as US$250 million in revenue over the course of the deal, according to its CEO Thomas Tsao.
DMG recently raised US$30 million in Series C financing from Oak Investment Partners and Gobi Partners. DMG plans to expand its market share.
SMTV, a joint venture between Shanghai Shentong Metro Co Ltd and Shanghai Oriental Pearl (Group) Co Ltd, started providing live newscasts on subway trains at the beginning of this year. DMG now covers eight metro lines in the city and is expected to expand operations to all 13 lines.
Both parties declined to reveal the contract value, but DMG could earn as much as US$250 million in revenue over the course of the deal, according to its CEO Thomas Tsao.
DMG recently raised US$30 million in Series C financing from Oak Investment Partners and Gobi Partners. DMG plans to expand its market share.
SMTV, a joint venture between Shanghai Shentong Metro Co Ltd and Shanghai Oriental Pearl (Group) Co Ltd, started providing live newscasts on subway trains at the beginning of this year. DMG now covers eight metro lines in the city and is expected to expand operations to all 13 lines.
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