The second Oldest Metro rail renamed its station for big brands amid declining ridership
It is quite common in Bollywood to change the identity to earn name and fame. Now the same concept is being followed by the Metro stations. Yes, you read it right. Metro stations are changing their names in collaboration with popular Brand names, but, unlike Bollywood, here Metro stations are only earnings but the real name and fame belong to the Brands. For instance MG Road Metro in Gurugram is now Syska LED MG Road Metro Station and Sikanderpur Station is now Bank of Baroda Sikanderpur Station.
Delhi Metro Railway Company (DMRC) earns money by either selling or leasing out their Metro stations naming rights to Brands. Since 2014, DMRC has sold 43 stations naming rights. Metro Station Advertising & Leasing process of naming rights is an online process. Naming rights are leased to the highest bidder and this lease contract is for not more than 10 years.
Since because of hike in fare prices, ridership is decreasing and to overcome this loss, Metro stations are earning by another way that is either by selling or by leasing out naming rights of Metro stations.
By this method of outdoor advertising, Metro authorities are not only earning money but also creating awareness towards the Brands. Around one billion people travel through Metro and come across these brand names, thereby advertisement of Brands become successful.
Privately-owned Metro stations in Gurugram and Bangalore Metro Authority are not behind than DMRC in selling/leasing naming rights. They are also negotiating deals with bigger Brands like Gurugram Metro stations now have names of Vodafone and Micromax with their some Metro stations. Likewise, Bangalore Metro stations are in process of merging with Infosys and Ikea.
As we can see DMRC are earning too much with their naming rights move, so they should use their funds for the betterment of Metro services by facilitating more services cutting down the fare, providing more spaces by having extra compartments.
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