The out-of-home advertising account is currently divided up between Clear Channel and JC Decaux with a 75 per cent and 25 per cent share respectively.
Based on industry estimates and company reports, the media revenue is worth approximately SG$25 million (US$19 million) per year, the five-year contract will start in April 2011 and end in March 2016.
OOH is a very important and prominent medium of advertising in Asia, constituting 38 per cent .
Recently, Pricewaterhouse Coopers' global entertainment and media outlook for 2010 to 2014 estimates for OOH advertising spend will grow from US$24 billion in 2009 to US$30 billion by 2014, representing a 4.5 per cent growth on a compound annual basis.
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