Empty Times Square Building Generates $23 Million a Year From Digital Ads

dryriver writes "Advertising things at the right place is proving to be a cash cow, as electronic ads earn about $23mn each year for an empty building at One Times Square – the iconic tourist destination in the New York City. A 25-story Manhattan office building that has long been empty keeps on bringing in millions to its owner as a billboard. Michael Phillips, CEO of Atlanta-based Jamestown Properties, bought One Times Square through a fund in 1997 for $117 million, as the Wall Street Journal reports. More than 100mn pedestrians pass through the square each year, which is 90% more than 16 years ago, says the Times Square Alliance, a non-profit business improvement organization. And this is what makes a price tag for having a company's name placed on the building the highest in the world, even above such crowded tourist destinations as Piccadilly Circus in London. Dunkin' Brands Group Inc. pays $3.6mn a year for a Dunkin' Donuts digital sign on the One Times Square building, with Anheuser-Busch InBev paying another $3.4mn a year for its advertisement. Sony and News America pay $4mn a year for a shared sign."

Re:Profit

[PPH]

Strip clubs, peep shows. Return Times Square to the greatness that it once was.

Perfect Spot

[DanielRavenNest]

...for an evil genius to set up his lair. Who would ever suspect an empty building at the busiest intersection in the world?

Re:Profit

[johnny cashed]

Ever consider he may not have tenants because no one would want to have 1,000,000 watts of light pouring into their office each and every day?

Cannabis grow room?

Re:Perfect Spot

[Anonymous Coward]

They would have to evict all the super heroes first.

Re:Mn

[Existential Wombat]

a manoneter