Adspace Networks has announced that it has generated a 60 per cent sales increase in 2010, with a strong fourth quarter, up 80 per cent compared to a year ago.

The growth is due to the expansion of the company’s footprint last year, with the addition of eight new malls (including its first outdoor lifestyle centre in Boston), and the expansion of its portfolio of advertisers. While telecommunications advertising quadrupled, financial services advertising increased seven-fold. Film, television, entertainment and consumer packaged goods are important categories that doubled in 2010 compared to the prior year.

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.