It is learnt that Chennai Metro Rail Limited (CMRL) has announced a rebate scheme for outdoor media concessionaires who handle the advertising rights of the rapid transport system. However, when Media4Growth contacted the concessionaires, the media owners said that they haven’t received any official document from the corporation in this regard.
As per a leading national daily, CMRL has decided to give 50% discount in the license fee. The waive off is planned to be given for a period, starting from October 1, 2020 to March 31, 2021 for placed advertisements inside trains or stations.
CMRL is giving huge concessions to firms operating in 45-km network of Phase I project to help them recover from the losses incurred due to the impact of the Covid19. From retailers to advertisers, CMRL receives non-fare box revenue from many firms. But, the corporation claimed that it has incurred a loss of INR 80 crore in the past few months.
With this initiative, CMRL becomes the foremost metro network to issue rebate scheme to support media owners. Also, it is learnt that the Delhi Metro Rail Corporation is expected to soon announce a relief for advertising contracts.