According to Business Insider, roughly 100 million tourists pass through Times Square every year. The commercial intersection, known for its huge billboards and colorful LED screens, is one of the most well-known and frequently visited attractions in the world. On New Years Eve alone, over 1 million people assemble just to watch a ball drop.
Times Square is one of the most coveted spots for advertisers. After all, the advertisements are not just viewed by pedestrians; they also are seen across media since Times Square frequently serves as the backdrop for various television programs and movies. As such, advertisements can be quite costly due to its legendary reputation.
According to Business Insider, the owners of 1 Times Square, the iconic tower where the New Year’s Eve ball hangs, make $23 million a year just from the billboards placed on it. Moreover, a single advertising space costs anywhere between $1.1 and $4 million a year to rent.
Aside from the major billboards, there are also cheaper ways to advertise via event and art sponsorships; website advertisements placed on TimesSquareNYC.org; and other campaigns placed on street pole banners or Bigbelly recycling bins.
