By beginning to trade shares in the company, as well as recently securing a contract to bring DOOH projects to the city of Southampton, Ocean is hoping that extra revenue will lead to further purchases in the sector. The firm purchased Scotland-based Forrest Media for £32m in June 2018.
The fourth largest DOOH company in the UK behind JCDecaux, Clear Channel and Global, Ocean sells advertising on sites, including the famous Piccadilly Lights – the largest advertising display in Europe.
Work has already begun to bring the firm’s digital screens to Southampton, the 12th city contract for Ocean. The ten-year contract will see the company replace and upgrade the council’s existing roadside billboards with enhanced digital screens.
... this partnership gives advertisers the ability to reach affluent audiences from home and overseas, further boosting the local economy”
Ocean chief development officer, Steve George, comments: “Southampton City Council is committed to innovation and engagement with its citizens, something that Ocean’s ambitious digital cities for digital citizens proposition fully supports.
“Southampton is the economic driver and top retail centre on the south coast. Combined with recent new business investment and the widely-anticipated Bargate Quarter regeneration, this partnership gives advertisers the ability to reach affluent audiences from home and overseas, further boosting the local economy.”
The terms of the contract will allow Ocean to develop up to 10 digital locations across the city, in a bid to improve aesthetics for the city, grow council revenues and drive environmental standards.
Councillor Christopher Hammond, leader of Southampton City Council, adds: “In Ocean we have found a partner whose ambition reflects our own vision for a digitally enabled city with a thriving innovation and technology sector.
“Our partnership will allow us to unlock our assets for the benefit of the local economy, and I have been impressed by their commitment to working with us on creative solutions to support our ambition to become a green city.”
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