The Chicago Transit Authority today, through its partner, IMG, issued Requests for Proposals for the naming rights to the CTA Holiday Train, New Year’s Eve Penny Rides, Free Rides for Chicago Public Schools students on the first day of school, and CTA Bus Tracker and Train Tracker.
Private companies now have this unique opportunity to associate their name with well-established, iconic CTA services. In addition to naming rights, this partnership will also include branding, advertising, communication and promotion, online promotion and links, and an on-site event announcing the participation of the selected bidder.
“These CTA assets have significant value and offer unique advertising space for businesses looking to reach riders in Chicago and the 40 suburbs where the CTA provides service,” said CTA President Forrest Claypool.
This initiative will allow CTA to increase revenues and make it possible for CTA to continue operating popular services such as the Holiday Train, Penny Rides, and free rides on the first day of school.
“These annual traditions are something riders anticipate and sponsorship ensures their viability while providing prime exposure for sponsors who are guaranteed to reach thousands of CTA customers as well as residents and passersby,” Claypool said.
Sponsorship contracts for the Holiday Train, Penny Rides, and first day of school are for three years and CTA Bus and Train Tracker contracts are for one year. All RFP responses will be sent to IMG, selected by CTA in August 2011 to identify marketable CTA assets, determine their value and develop the requests for proposals to solicit sponsorships.
IMG is also in the process of identifying additional sponsorship opportunities for other CTA properties and assets. Under CTA’s contract, IMG will only be compensated if sponsorships are secured and approved by the Chicago Transit Board. Compensation is based strictly on commission and on a graduated percentage scale based on the value of the transaction.