DEVELOPERS of the latest in billboard advertising are searching for investors to enable a roll-out product across Australia.
Adscreen Australia has spent the past five years developing its in-store TV screen advertising, Adscreen i2i, which has been on trial in an Action Supermarket since November last year.
The directors of the company have invested $500,000 in the product but require an additional $550,000 to $800,000 from investors to allow the purchase of equipment to fill anticipated orders.
According to Adscreen Australia managing director Paul Papa-Adams, the company is on the verge of breaking into a new advertising market.
“It’s not a new idea; this has been around a while,” Mr Papa-Adams said.
“The barrier to entry is the contracts with venues and we are the first company of our kind to secure a major deal.”
That deal is a verbal agreement between Action Supermarkets and Adscreen Australia.
“They want to roll-out the product across 33 stores that they have here and after three months it could possibly go to Queensland and Northern New South Wales,” Mr Papa-Adams said.
“Action have said ‘yes we like it’ and they will sign a contract.”
Mr Papa-Adams is confident the deal will be finalised in coming weeks.
The company is also in discussions with Westralia Airport Corporation.
Adscreen Australia operates in a similar way to a billboard advertising company.
It pays the retail outlet a rental fee for space to erect screens and then sells advertising space to companies.
So far Adscreen has signed up a dozen advertisers including Coca-Cola, Peters and Brownes, the Water Corporation, and Channel 7.
“We produce the material or we outsource it. We provide the screens and we manage them and maintain them,” Mr Papa-Adams said.
However, the company also provides news, weather and other information.
The 15-second adverts are played on a six-minute loop, which allows for repetition as customers walk past.
The company also provides news and information via the TV screens as well as the traditional advertisements.
© Business News 2017. You may share content using the tools provided but do not copy and redistribute.