Advertising revenues in shopping centres are on the increase, according to listed ad agency spaceandpeople, which reported revenues up 18 per cent year-on-year.
Experiential marketing and media group SpaceandPeople, which specialises in shopping centre advertising, has reported significantly improved trading in the first quarter of its financial year. Total billings increased by 18 per cent in the period 1 November 2009 to 31 January 2010, rising to £2.88m against £2.45m a year previously.
Group chief executive Matthew Bending said the company had enjoyed the strongest start of any financial year since its admission to AIM in 2004. "This is a strong start to the financial year and bodes well for the rest of 2010,” he said. “As well as operational efficiencies and improved billings, we are benefitting from a freeing up of marketing budgets by larger corporate brands. Our corporate client base is starting to invest again in fresh and innovative ways to get their products in front of customers.
The company has registered its strongest ever pipeline of new venues and is currently in discussions with approximately 40 more venues in the UK. In total, the company currently represents more than 300 venues with a footfall of 28 million customers per week in Europe.
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