Does The Acquisition of Bravo Put JCDecaux In The Driving Seat?
Yesterday evening JCDecaux Ireland announced it had bought locally owned Bravo Outdoor Advertising Ltd. for an undisclosed sum.
The move is very timely as Bravo manages the currently out to tender CIE contract, the single largest outdoor contract in the country, which includes the Dublin Bus and Bus Eireann fleets, DART and Transvision digital station screens and rail bridges. Bravo held on to the CIE contract back in 2010 despite strong competition from global behemoths which included JCDecaux; this purchase surely puts them in a very favourable position to retain the contract. In the short-term, JCDecaux takes control of 100% of transport advertising formats available (via OMA members).
As well as the CIE collateral, JCDecaux will also increase its presence in shopping centres and on Irish roadsides; adding to its already varied commuter formats such as metropoles, metropanels and the LUAS network. Significantly in the large format category, JCDecaux now becomes even more dominant, with Bravo’s share moving them from 42% to 70% share of available panels.
In the official press release, James Barry, former CEO and shareholder of Bravo Outdoor said “I am very proud of what Bravo has achieved since its launch in 2009 and I am delighted that JCDecaux has now acquired our business. The professionalism and product portfolio of JCDecaux will be beneficial to our partners, staff and all our other stakeholders.”
The out of home market in Ireland was worth €77m in 2012, down 5% on the previous year (via Outdoor Media Association).