A Denver business contract has been inked by Clear Channel Airports and the Denver International Airports that is expected to rake in some $95 million for the terminal over the decade it’s in effect.
Our Denver business contract attorneys know that while this is being touted as positive news, business contracts can quickly sour if they’re not reviewed by an experienced attorney.
It’s not just major, multi-million dollar companies that need to consider this. Small businesses in particular are at risk to be taken advantage of, which is why it’s critical to have the deal signed off on by your Denver business lawyer.
In this case, the advertising deal will result in the installation of nearly 120 LCD advertising screens, which will be posted throughout various locations in the terminal. Four of these will be a towering 26-feet tall, and will form around the elevator columns. These will reportedly be the biggest digital display currently in any airport in the country.
The revenue earned from advertising revenue will reportedly be significant, which in turn is going to trickle down to airline partners, an airport spokesman told The Denver Post. In fact, it will bring in nearly $100 million, which will be paid by Clear Channel.
If you’ve been to the airport lately, you’ve probably already seen the screens. The full implementation is expected to be completed by next spring, further illustrating that deals like this take time, and should be properly vetted by attorneys.
The screens will of course have advertisements, but apparently those won’t be running full-time. There will also reportedly be a large number of public service announcements as well.
It’s expected that Clear Channel will also tailor the images and advertisements, based on where the screens are in the terminal and where those flights are scheduled to go. The idea is to ultimately create a more captive audience.
The situation appears to be a win-win for everyone: Clear Channel gets an exclusive advertising platform, the airport gets increased revenue and the airlines see some of that trickling down in the form of lower costs.
Even when Denver business contracts seem golden, it’s worth the investment to have an attorney triple check it.