CBS hit by ad slump on Tube contract

Amid speculation that CBS Outdoor is anxious to renegotiate its contract with London Underground, figures show that while Tube ad revenues have declined by 5.5% over the past four years, the amount paid by CBS to Transport for London has increased by 62%.

CBS Outdoor: London Underground contract
CBS Outdoor: London Underground contract

CBS declined to comment on the suggestion that it was unhappy with the terms of the contract.

The figures come from the London Mayor's office and Nielsen. They exclude direct advertising, sponsorship and the DLR. Net ad revenue in the year to April 2010 was £71m, down 12% on the previous year. London Underground received £71.5m in revenue from CBS Outdoor, up 14% on the previous year.

CBS Outdoor's eight-and-a-half-year contract, which is believed to be the largest in the world, began in August 2006. Since then CBS has lost senior staff including its international chief executive and managing director of sales and marketing.

Become a member of Campaign from just £78 a quarter

Get the very latest news and insight from Campaign with unrestricted access to , 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