SCMP’s Eager Luxury Expansion Continues With New Acquisition

SCMP group is aggressively expanding into the luxury sector with its recent luxury publication acquisition and prime billboard site acquisitions. (SCMP) Hong Kong-based South China Morning Post’s (SCMP) advertising arm received a boost as it acquires multiple prime outdoor media sites in Hong Kong. This acquisition is part of the media group’s aggressive expansion into luxury and advertising, having recently acquired several luxury publications and announcing Sands China as their inaugural advertiser in a press release. The group’s outdoor advertising arm, SCMP Outdoor Media, announced yesterday that it acquired exclusive billboard agent rights for the Top Glory Tower site in Causeway Bay, and a rebuilt Jumbo Court Car Park site. SCMP Outdoor Media also announced that it won the government tender to exclusively manage all media space in the restricted area of the Macau Ferry Terminal in Central. These high-traffic spaces in affluent areas are valuable advertising sites for luxury brands. SCMP has been on a streak of focusing on expanding its luxury portfolio, with its acquisition of magazines Esquire and The Peak last year and Destination Macau this year. The recent billboard site acquisitions will help the company profit off providing prime advertising space to high-profile luxury clients such as Cartier, Chanel, Louis Vuitton, Van Cleef & Arpels, and more. It announced in the press release that it is “actively working to acquire more sites to expand its thriving outdoor media unit to provide an even broader advertising portfolio for its advertiser base.” "The outdoor media segment has enjoyed steady year-on-year growth over the past five years, and the introduction of this new business unit is consistent with our Group's growth strategy,” says Elsie Cheung, COO of SCMP Group, in the press release. “Importantly, it is in line with our philosophy of only acquiring prime sites that complement our core base of elite advertising brands.” To further fine-tune its advertising efforts, SCMP has partnered with gaming group Sands China to reach “an important captive audience to market its breadth of branded and luxury hotels and resorts offerings,” especially with its Macau Ferry Terminal billboards. SCMP’s Macau focus is timely with the island’s recent tourism boom, and China’s increasing outbound tourism. "With our prominent outdoor position at the Macau Ferry Terminal in Central, and when combined our full suite of print and digital advertising products such as the South China Morning Post, STYLE, and our latest acquisition—the premium luxury magazine Destination Macau, we now provide the region's strongest Macau destination advertising solution for top tier brands looking to capture this thriving tourist hotspot both from a Chinese nationals and overseas visitors standpoint," says Cheung.

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SCMP’s Eager Luxury Expansion Continues With New Acquisition