The 25m by 5m LED screen is being constructed as part of redevelopment work to the site and will sit above the retail units occupied by Barclays and Boots.
Installation of the extended site, dubbed “One Piccadilly”, begins in August and the screen is expected to be in operation by December this year.
Land Securities, which owns the Piccadilly Lights, estimates more than 2 million people pass through Piccadilly Circus each week, with 70 per cent of those pedestrians. It says the “unmatched” combination of high footfall and full motion screen capability makes the site a “unique opportunity” for brands looking to project a “significant stature” with a prominent global reach.
Coca-Cola has held the longest tenure on the Piccadilly Lights, having advertised there since 1955. Hyundai became the most recent brand to advertise on the site in 2011, taking over from electronics company Sanyo, which had held its hoarding for more than 30 years.
Other advertisers currently on the site include TDK, Samsung and McDonald’s.