Shopping centre owner Scentre Group and Neuilly-sur Seine-headquartered JCDecaux will partner to develop and manage a portfolio of outdoor advertising touchpoints at Westfield living centres in Australia and New Zealand.
The 10-year agreement will provide marketers another opportunity to connect with audiences and communities, the parties said in this statement.
JCDecaux is the largest outdoor advertising corporation in the world.
Founded in 1964, in Lyon, the company, which employs more than 3500 people, is known for its billboards, particularly around bus stops, public bicycle rental systems and street furniture.
SCentre controls 41 Westfield living centres within growth corridors throughout Australia and New Zealand.
The retail giant estimates that about 65 per cent of residents in the two countries live within half an hour drive of a Westfield living centre.
SCentre general manager, partner experience, Bill Burton, said more than 535 million customers visit the outlets every year.
“The unique location of these roadside advertising assets will offer advertisers a new opportunity to reach audiences at scale, via high-impact formats utilising world-leading digital technology, such as high-resolution, transparent digital screens,” Mr Burton said.
“JCDecaux is the right partner to bring global expertise in outdoor media, community and stakeholder engagement,” he added.
JCDecaux Australia and New Zealand will obtain permits and manage the maintenance of the signage.
Chief executive officer, Steve O’Connor, said the “relationship with SCentre GRoup is a very strong one, founded on mutual respect”.
The new revenue stream set to come from the partnership will in turn will boost the value of SCentre’s retail portfolio.