Billboards in Times Square Could Significantly Pay Down the Debt

On New Year’s Eve the building that houses the Times Square ball drop on New Year’s Eve will be cheering all the way to the bank.  One Times Square takes in more than $23 million a year in revenue.

Dunkin’ Brands Group Inc. pays $3.6 million a year for a digital sign where fans send images to the company’s Facebook page. Anheuser-Busch InBev pays $3.4 million to display their wares. Count in Sony Corp. and News America, to pay a shared $4 million a year. News Corp . owns News America and Dow Jones & Co., publisher of The Wall Street Journal, also rents sign space on the building.

The Walgreen Co. store on the bottom three floors, helps this mostly empty building make $495 million,  more than twice the sale price than a larger 31 filled up building downtown.

One Times Square is a cash machine that reflects tourism.  destinations. More than 100 million pass through the Times Square a year. The rates for their signs are roughly double.
Chelser, an analyst at Deutsche Bank AG.

Small-market billboards typically rent for $1,000 to $2,000 and larger digital signs take in $2 million to $4 million a year, or more.

As the fiscal cliff looms maybe the president and congress should of taken over a couple of buildings and used this lucrative business for paying off the debt

Mabel Mercer

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