The move will also provide more permanent slots.
Previously, there were four permanent slots – filled by Coca-Cola, Samsung, McDonald’s and Hyundai – plus two non-permanent ones.
Ocean is replacing the site with a single LED screen in autumn 2017. It will be virtually divided into six segments to preserve the mosaic appearance. All slots will be permanent.
Coca-Cola, which has advertised at Piccadilly Lights since 1954, will remain on the new format. As will Samsung, which has had a presence at the site since 1994. One other brand – understood to be another incumbent – has also agreed terms but has yet to sign the contract.
On the new screen, brands switch between each slot in a 30-minute cycle. At the end of each run, one ad will take over the entire site before the rotation begins again. The six brands will alternate taking over the full screen.
Advertisers will be able to run interactive and real-time campaigns at the site, which will be fitted with high-speed Wi-Fi and recognition technology for audiences, weather and traffic.
Previously, real-time ads ran in only one of the non-permanent slots.
The new 790-square-metre screen will be the largest of its kind in western Europe.
Ocean began working with Piccadilly Lights’ landlord, Land Securities, in the summer when it started selling one of the non-permanent slots.
The company has since won the contract to redevelop the entire site.