Naming Rights

Naming Rights is a form of advertising whereby a corporation, person, or other entity purchases the right to name for example a facility, object or program and any project that might involve an iconic asset should consider monetizing naming rights. Any project that might involve an iconic asset should consider monetizing naming rights.

Naming Rights in Stations and City Icons

In a similar way that advertising and marketing leverages high footfall areas, naming rights can leverage city icons to connect with consumers. By offering naming rights to reputed brands, governments can monetize the iconic image of infrastructure assets and engage reputable brands to leverage value from naming rights for brand recall and positive brand association.

However, naming rights for city icons such as stations need guidelines that align naming rights with community values.

Subsections

Advertising/Marketing: High-Footfall Public Areas

Advertising is a well-established business segment for operators of public transit stations, terminals, and airports. High footfall areas within public transit are perfect locations to promote a product, service, or cause and are effective customer touchpoints for brands. Communities in high-mobility cities often regard advertising in public transit stations as quick reflections of what is in the market.

Arcade Independence Square, Sri Lanka

Arcade - Independence Square (Arcade) is by far one of the most important refurbishment and development projects undertaken by the Sri Lankan Ministry of Defence and the Urban Development Authority (UDA) which converted the old Auditor General’s Building into a grand and trendy shopping and entertainment destination spending Rs. 700 million (USD 1.98 million) for the renovation.

Events in Wembley Stadium, UK

Cities across Europe are using festivals and events to achieve place marketing and economic development objectives and encourage cultural engagement and social cohesion.

EV charging infrastructure, India

Successful electric vehicles adoption requires a change in consumer behavior enabled by public policy to create an electric vehicles ecosystem that makes the use affordable and reliable.