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Tuesday, July 16, 2024

Lack of demand forces HCMC to lower bus advertising charges

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HCMC – With the introduction of a variety of new advertising media, the declining popularity of bus advertising and four failed tenders for the same advertising packages, the HCMC Department of Transport is now planning on decreasing the prices of bus advertising.

Vo Khanh Hung, deputy director of the municipal Department of Transport, told the local media on June 19 that among the previous tenders, only one found a winner, while no enterprises submitted bids for the other tenders.

Hung attributed the failure of the four previous auctions for rights to advertise on buses and at bus stop lounges to the popularity of various new forms of advertising including LED-based outdoor advertising boards.

As such, the department proposed reducing the prices of bus advertising packages to attract investors and advertising firms and submitted a plan in this regard to the HCMC government for consideration and approval.

The demand for outdoor advertising was high 10 years ago, but has dropped by 30% as clients are gradually switching to online advertising, noted Dang Van Son, director of Phuoc Son Advertising Company.

Apart from this, many buses in HCMC have become old and worn out, while the prices of bus advertising are higher than those in other localities and of online advertising, Son added.

Son suggested the authorities assign bus firms and transport cooperatives to look out for advertising contracts and pay the costs of maintaining and upgrading buses to attract more advertisers and make bus advertising more effective.

By Le Anh

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