USA: AdSpace Networks Intends to Add 48 Malls to its Portfolio by the End of 2011
8 October 2010 12 h 33 min1 Comment
In-mall digital network operator Adspace Networks will expand its national footprint by adding eight new malls by the end of the year and will look to add 40 more malls in 2011.
The development plan will be made easier by the company’s recent partnerships with five new mall operators; Forest City Enterprises, Pennsylvania Real Estate Investment Trust (PREIT), WS Development, Memorial City Mall, LP and Jones Lang LaSalle.
“The expansion of our footprint adds distribution as a growth driver for our company", said Eric Steinert, Senior Vice President, Business Development, Adspace Networks. "Importantly, we are funding this expansion from our positive internal cash flow, and did not need to raise any additional capital to add these centres to our network."
Adspace has been growing revenue 50 percent annually over the past two years, with its current portfolio of 107 malls nationwide.
Categories : Ad-network, Ad-sales, Mall, United States
[...] As announced before, the company plans to expand into 40 new malls in 2011, growing its footprint to a total of 150 malls. The addition of these new malls will increase the network’s monthly traffic to 150 million people. [...]