Contractors have started work on a project that will light up Times Square in New York, one of the most-visited places in the world. TSX Broadway, as it is known, will be a 'branded beacon,' 46 floors of retail, entertainment and accommodation.
Contractors have started work on a project that will light up Times Square in New York, one of the most-visited places in the world with around 380,000 pedestrians walking through it each day.
According to David Orowitz, a senior vice-president at developer L&L Holding Company, the entire building will be like a giant advertisement."The whole building is essentially sign, and the side that is facing Times Square is a single sign comprised of LEDs into the building itself that runs up the entire 46-story building," he said in an email to CNBC.
It would have to be a brand that has the right entertainment value, Essex added."Events must become more eventful, otherwise people stay home and watch Netflix," he said."So what does it take to get people out of the house today?" Naming rights for venues are nothing new, but as this deal is different because it likely include retail and performance spaces, Essex claimed."The entire superstructure, the retail space is fungible. So could one have an esports arena? Can the stage be indoor outdoor? Can you broadcast or stream directly? There's quite literally no limit to what's possible, because nothing is already purpose-built," he claimed.
Data will be an important part of the tower, and with 5G integration, more complex ways of advertising become possible. Location-tracking technology that serves up ads to people after they've left a store is already used by retailers.
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