Clients cautious over Olympic outdoor bids

The auction for outdoor media space around the London 2012 Olympics has so far resulted in the sale of around 15 per cent of the best sites, either near to Olympic venues or in "spectacular locations".

London 2012…15 per cent of the top sites have been sold so far
London 2012…15 per cent of the top sites have been sold so far

According to figures from media buying sources, 80 or so of the 500 products for sale in either the "vicinity" or "spectacular" categories of sites have sold to worldwide or tier-one sponsors in the first round of bidding. The sales have generated around £20.9 million in revenue, representing 29 per cent of the total £72 million reserve price placed on the "vicinity" and "spectacular" sites combined.

Of the 18 official sponsors of London 2012 that were able to bid, 15 are consumer-facing brands. But of those brands, which include Coca-Cola, Adidas, McDonald’s and Visa, it is understood that just eight participated in the auction.

Next week, the tier-two and three sponsors will have an opportunity to buy the "vicinity" and "spectacular" sites.

A London 2012 spokesman stated: "The process is ongoing and we are not commenting on speculation."

Become a member of Campaign from just £45 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Partner content

Share

1 Why creative people have lost their way

What better way to kick off Campaign's relaunch than with another think piece on the current failings of our industry, written by an embittered, pretentious creative who misses "the way things used to be"...

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).