Elevator News eyes Rs100-cr revenue

Elevator News Network (ENN), in association with Helius Inc (Canada), is looking at a turnover of Rs 100 crore in India on the back of growth in out-of-home media, real estate and shopping malls in the country.

 

The company is investing Rs 25 crore every year in India operations. ENN offers news and commercials on LCD screens inside elevators. It is also into digital signage inside shopping malls and residential complexes.

 

ENN partners with news channels like CNN, BBC, NDTV, and print majors Times of India and Indian Express, for content.

 

According to Ashok Sharma, director of ENN, "With growth in real estate, shopping malls, commercial buildings and residential complexes, we are looking at putting up around 1000 screens by end of 2008, from 125 screens operational at present in India."

 

The company, currently has screens inside elevators and as digital signage in commercial areas in Mumbai.

 

It plans 300 screens in Kolkata in six months, including shopping malls like South City and City Centre and commercial complexes like Infinity building in Salt Lake Sector V and Millenium tower.

 

It also plans to start operations in Delhi from May this year with around 50

screens.

 

"The mall owner or the building owner does not have to make any payment. Our main source of income is through advertising revenues. For Rs 75,000 per week, we air an advertisement 256 times a week. We also guarantee 48 lakh viewers and 82 per cent recall rate," Sharma said.

 

The company is also planning to introduce fire notification alarm and security cameras along with the screens inside elevators.

 

"We are also planning to offer the same facility inside buses and are talking to a few fleet owners," said Sharma.

 

Outdoor media is estimated at close to Rs 1000 crore in India currently and is poised to reach the Rs 2,150 crore by 2010.

 

"By 2015, we expect to garner close to 40 per cent market share of the outdoor media industry in India," Sharma added.

 

The company currently has around 350 screens operational in USA and Canada.