On 5 August, the billboards at New York City's iconic Times Square will beam 3D images of Lord Ram and the Ram Temple at Ayodhya to celebrate the ground-breaking ceremony of the temple to be held on the same day.
Prime Minister Modi will lay the foundation stone for the temple in Ayodhya, Uttar Pradesh on the same day.
But why is advertising at Times Square so lucrative? And how much does it cost? Let's take a look.
Most "Trafficked" Tourist Destination In The World
New York's Time Square sees more human traffic on a daily and yearly basis than most other tourist attractions around the world.
According to Times Square's website, on an average, nearly 380,000 pedestrians enter the Times Square ‘Bowtie’ each day, while another 115,000 drivers/passengers pass through by car and bus.
It further states that on its busiest days, the Square sees pedestrian traffic of close to 460,000 people.
It is also a very busy commercial area with over 180,000 employees working in the vicinity.
The fact that Times Square also sees large crowds late into the night, is an advertising advantage. An estimated 85,000 pedestrians enter the Bowtie between 7pm and 1am everyday.
Advertising spaces in the Square, therefore, get a lot of traction, with one particular signage receiving over 1.5 million impressions each day.
What Is The Cost Of Advertising In Times Square?
According to various sources on the internet, it can cost anywhere between $1.1 and $4 million a year to buy advertising space in Times Square.
A Times Square billboard may cost between $5,000 and $50,000 per day.
If you want to advertise on the Square's largest billboard, then you have to shell out over $3 million dollars a month.
This brings the average cost, per impression, for a Times Square billboard to about 50 cents, much higher than the American average, which is between 0.4-0.5 cents.
Compared to online sources of advertising such as Google and Facebook, a Times Square ad costs almost 4.25 times higher.
What We Know About The Times Square Event On 5 August
Prominent community leader and President of the American India Public Affairs Committee, Jagdish Sewhani, told PTI that arrangements are being made to celebrate the "historic" moment.
Among the prominent billboards that are being leased for the event is the giant NASDAQ screen and the 17,000-square-foot wrap-around LED display screen, considered to be highest-resolution exterior LED screen in Times Square.
Starting 8am on 5 August, upto 10am, the words Jai Shri Ram’ in Hindi and English, 3D portraits of the temple’s design, Lord Ram’s portraits and videos, and pictures of Modi laying the foundation stone will be screened in billboards across the Square.
The Indian community is also expected to gather at the venue to take part in the celebrations and distribute sweets.
(With inputs from PTI)
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