|
|
Article: Strapped GM inks ad deal in Times Square; Amid losses, automaker buys 3rd slot-this one for $300,000 a month.(General Motors Corp.)
- Article from:
- Advertising Age
- Article date:
- February 20, 2006
- Author:
CopyrightCOPYRIGHT 2006 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: ABBEY KLAASSEN and JEAN HALLIDAY
When the iconic ten-year-old Nissin Cup of Noodles sign in Times Square stops steaming come April, a General Motors' Chevrolet sign will go up in its place, joining two other billboards the automaker currently leases.
Industry insiders peg rent for the new space at about $300,000 a month.
GM last summer erected a Pontiac ad on Two Times Square, and since 2004 has promoted GMC on a spectacular board on the east side of 7th Avenue.
Having three expensive long-term signs is unusual, and begs the question that at a time of financial stress for General Motors, is it wise to spend so much on Times ...