IE Business Daily Business news for the Inland Empire.
The Ontario International Airport Authority has given a green light to allowing in-terminal and outdoor advertising at the airport.
Board members Wednesday unanimously approved two agreements expected to generate more than $7.6 million during the next 10 years, according to a statement.
One agreement calls for Baton Rouge, La.- based Lamar Advertising Co. to provide advertising in Terminals Two and Four and in parking lots. The agreement guarantees the airport authority at least $350,000 a year or 55 percent of Lamar’s gross advertising sales, whichever is larger.
The second agreement allows for advertising at specific outdoor locations in the form of static and digital billboard signs. Lamar will pay either $40,000, or 25 percent of gross sales, under the terms of that agreement.
Both agreements give Lamar exclusive right to manage the concessions for national, regional and local advertising, along with sponsorships and marketing, according to the statement.
“These new advertising concessions represent significant progress in the commercial evolution of Ontario International Airport, because they create new streams of non-aviation-related revenue, the type of revenue growth that is critical to the long-term success of any airport,” said Alan D. Wapner, president of the authority, in the statement.
“Airports cannot succeed on landing fees and terminal leases alone, so airlines in particular will view this as a very positive step.”
