Vision Media Group International | News
30 September 2008Local advertising sales agreement for UK’s largest digital mall network
Move completes outsourcing designed to grow revenue whilst reducing overheads
Vision Media Group (International) plc (AIM:VMG), the outdoor media contractor, today announces it has signed an exclusive agreement to outsource their entire local and regional sales function for all local advertising across its mall portfolio to the UK’s leading local sales specialist, WRT Group plc (“WRT”).
The partnership with WRT will allow VMG to expand it's local sales capabilities in parallel with the planned mall roll out programme, whilst avoiding an enlarged central operation which would otherwise be necessary to accommodate the expansion.
VMG's own commission driven sales teams have established that there is a substantial market for selling advertising opportunities on the Group’s digital panels to the local business community. VMG’s mall portfolio, which consists of 22 operational shopping centres and will shortly be expanded to include an additional 35 venues, is of particular value to local advertisers as its digital panels can be seen by an annual audience in excess of 1 billion consumers at the point-of-purchase.
Established in 1990, WRT is the UK's largest local advertising sales company, with in excess of 140 sales people operating from 11 offices across the UK, from Carlisle to London and Belfast, the Company is headquartered in Kirkham, Lancashire.
VMG's existing local sales initiative, the sales representatives and a number of key head office personnel have been transferred to WRT, resulting in further headcount and overhead reductions at the Group’s Cheadle office bringing the Group’s headcount down to 20 personnel.
Mike Cottman, Executive Chairman of VMG, commented: ”Our new partnership with WRT represents another milestone event for the Group. VMG has been successfully trialling a growing local sales business which is beginning to deliver real revenues to the Group. In line with our firm commitment to an outsourced business model and the associated reduction in costs, we have identified WRT as an industry expert which can build upon this foundation quickly and with scale.
“The team at WRT are perceived to be the best in the business in local sales so this new partnership will allow us to expand our revenue in line with our expansive mall roll out programme whilst also allowing us to further reduce costs and overheads. This move completes our outsourcing plans and will allow internal executive time to focus wholly on delivering further real estate platforms for our two major media sales partners, Clear Channel Outdoor UK and WRT, to sell advertising on.”
For further information:
| Vision Media Group (International) plc | |
| Mike Cottman, Executive chairman | Tel: +44 (0) 203 206 0001 |
| mikec@visionmediagroupplc.com | www.visionmediagroupplc.com |
| Seymour Pierce Limited | |
| Stuart Lane / John Depasquale, Corporate Finance | Tel: +44 (0) 20 7107 8000 |
| stuartlane@seymourpierce.com | www.seymourpierce.com |
| Media enquiries: | |
| Abchurch Communications | |
| Henry Harrison-Topham | Tel: +44 (0) 20 7398 7702 |
| jack.ballantyne@abchurch-group.com | www.abchurch-group.com |