Cincinnati Company Working To Sell Streetcar Naming Rights, Ads
Time is ticking for the company tasked with selling the naming rights and advertisements on Cincinnati's streetcar vehicles. The system is scheduled to begin passenger service in September.
So far, Ad Vehicles has not sold anything. That is concerning to some city council members. Company representative Ken Black said he understands that.
"We absolutely understand the urgency of getting this done, and ultimately there's nothing I'm going to be able to say in front of this mic except bringing you a check that's going to make you happy," Black said. "We're working very diligently to make that happen."
Ad Vehicles started working on the streetcar project in December after the city had unsuccessful relationships with another for-profit company and a non-profit firm. Ad Vehicles currently sells advertising on Metro buses.
Black said, right now, they're focused on selling the naming rights.
"We've had obviously a number of appointments out there, but the most important thing that you want to know is that we've had several meetings that have gone multiple meetings with the same company," Black said. "The conversation is progressing to the point that we're getting closer and closer to a few finish lines."
Black said the company is hoping to sell naming rights for $225,000 to $325,000 per year with a 20 year commitment. The ads on the insides and outsides are expected to bring in between $145,000 and $225,000 a year. Those are gross figures. The amount the city receives will be less after Ad Vehicles takes its commission.