Elevators may not be an easy place to find the love of your life, but you may soon be in love with elevators.
Canadian firm Elevator News Network plans India foray
KOLKATA: Elevators may not be an easy place to find the love of your life, but you may soon be in love with elevators. For, in the near future, it will be possible to skim through news, digital signage, stock quotes and traffic conditions outside while you go up to the 18th or the 19th floor of a skyscraper.
Elevator News Network (ENN), a media company with Wireless News Network, is looking to invest about $25 million over the next two years in India where it sees immense opportunities.
The company delivers up-to-the minute news and information coupled with full-motion advertising to business professionals via slim-line digital monitors located in premier office towers across North America.
ENN created this out-of-home (OOH) medium as a means for the advertiser to reach upscale consumers in an uncluttered environment.
However, in India, targeting commercial, residential buildings and malls, it is open to tying up with local and regional brands as well.
ENN, a division of parent ENN International, has entered into a tech tie-up with Helius Inc of Canada for its Indian foray. The company is looking at setting up 1,000 screens in India and 500 in Middle East and Singapore.
The captive audience market is $5.9 billion globally whereas, in India, out-of-home is a Rs1,000 crore market. By 2010, it is slated to touch over Rs2,000 crore. “This is the new medium for advertisers not just in India but anywhere in the world,” said Ashok Sharma, CEO, ENN.
ENN is the third company globally to provide real time news and advertising in elevators — the first being Captivate which is only present in North America. The third is a small, Sydney-based company. ENN is the first to go global, said Sharma. ENN offers 15 second commercials thus, a TV commercial already on air will have to be modified and edited to suit ENN’s needs. Add on services include fire alarm to fire stations as well as a security system through 30 days recordings on a CD which becomes the property of the building owner.
Experience of elevator news network providers have shown that 96% of elevator communicators view the screen and 88% watch it every time they ride the elevator. “For advertisers, it translates into 14-16% increase in sales,” said Sharma.
m_madhumita@dnaindia.net
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