Who should advertise on the new Times Square billboard at TSX Broadway?
How to ensure that Times Square’s newest 46-story billboard is an advertising success
Imagine you are in the center of Times Square. You look up and what do you see? Billboards. Giant billboards. With dazzling, quickly changing advertisements, promotions, and announcements. And this New York landmark is about to get a splashy new addition in the form of a 46-story digital billboard on the TSX Broadway building currently under construction on the corner of 47th Street and 7th Ave. In an area known for large and eye catching billboards, this new 18,000 square foot LED digital out-of-home (DOOH) billboard will be a show stopper.
The Theater: Times Square
Every day around 380,000 individuals pass through Times Square, so advertisements shown in this area have a broad reach. That means there are 380,000 potential viewers of the new billboard at the TSX Broadway building. Knowing more about this audience, including their interests, demographics, and other places they like to visit, will help advertisers and planners maximize the impact of their advertisements. Using Ubimo’s Polaris technology, we can analyze the foot traffic to Times Square and reveal insights about the audience.
Using Ubimo’s Polaris technology, we can analyze the foot traffic to Time Square and reveal insights about the audience
The Audience: Visitors to Times Square
Of the audience who will view the new billboard at 47th Street and 7th Ave, three fourths are between 25 and 44 years old, two fifths have a household income above $75,000. If these are the target demographics for an advertiser, Times Square is a great place to reach them.
A quintessential tourist destination, Times Square attracts an audience that lives all across the country. Ubimo’s heat map below shows that many visit Times Square from cities in Florida, Texas, and California. For advertisers, this means that their ads will reach a broad audience making it a perfect opportunity for larger national brands to spread their message.
Where visitors to Times Square come from – Ubimo Data
Ubimo’s Polaris technology reveals the top ten places the Times Square audience also visits. For example, those who go to Times Square also visit Barneys New York, Levi’s, and Equinox. These companies would be perfect advertisers for the new billboard since the audience who sees the billboard are already brand fans who have visited those places. Competitors to the Top 10 Locations, such as Nordstrom, Subway, Dunkin’, or Hyatt, can reach and win business from their competitor’s audience by advertising on this Times Square billboard.
Results show that visitors to Times Square enjoy going to the theater, museums, and concerts. The Theater District is close to Times Square and many in the audience are on their way to see a Broadway show. Ubimo data shows that visitors to Times Square also visit New York City Museums like The Met, MoMA, and Guggenheim. These insights indicate that theater productions, exhibits at museums, upcoming concerts, or even promotions for media and entertainment companies would make for good advertisements.
Additionally, the purchase history of the Times Square audience indicates that they buy home decor in the high price point, so an advertiser like William Sonoma or West Elm would be a good fit for the TSX Broadway billboard. This audience has also purchased skin care products, so an advertiser like CVS could run ads for the skincare lines they carry.
The Stage: Digital Billboard
The TSX Broadway billboard will be an attention grabbing digital display, which offers many benefits for potential advertisers. DOOH advertising allows for more flexibility on dates and times for the campaign since advertisements can be switched instantaneously, resulting in more customized and creative campaigns. For example, if Starbucks wants to advertise their breakfast menu during the morning, but not in the afternoon and evening, they can do that with DOOH. Or if Olive Garden wants to drive more foot traffic to restaurants on Tuesday evenings after 8 pm, when Ubimo’s foot traffic analysis shows they have a lull in diners, they can run advertisements and promotions on Tuesdays to drive larger crowds to dinner.
The new Times Square DOOH billboard has the potential to allow advertisers to reach their target audience in innovative and creative ways. Placing ads in Times Square is notorious for having a high price tag. However, using location intelligence, advertisers can learn demographics, living areas, shopping venues, favorite restaurants, and hobbies of that audience. These insights show which advertisers would be a good fit for the TSX Broadway billboard and what kind of advertisements they should run to be effective, ultimately driving the ROI of this strategic crossroads.
Disclaimer: This independent analysis is based on Ubimo’s location intelligence platform. As such, Ubimo does not have any relationship with companies featured in this report, nor should the independent analysis be construed in any way to suggest otherwise. Ubimo data is always anonymized and aggregated.