The Piccadilly Lite ad space is being made available to a single brand for a 12 week slot around the London 2012 Olympic games next year. The Piccadilly Lights billboards are usually only available for long-term advertisers and has only had 50 brand advertisers in more than 100 years.
Earlier this year Hyundai took over the main billboard site from Sanyo, which had been in the slot since 1978.
The billboard, owned by Land Securities is seen by an average of two million people every fortnight, which is expected to increase during the Olympics and Paralympics.
The high resolution Digital LED screen allows brands to run digital messages that can be changed quickly and regularly throughout the period.
Outdoor advertising space in London was put up for auction by the 2012 organisers remaining available slots are expected to be at a premium for sponsor and non-sponsor brands.
The Olympics is expected to boost UK ad spend by 5.4% next year, according to the latest Advertising Association figures.
Scott Parsons, property director at Land Securities, says: “Demand for advertising stock is set to reach an all time high in the lead up to the Olympics. Many of the sponsors are already struggling to find ample outdoor opportunities, and non-sponsors are looking for prime sites away from restricted Games venues.
“Historically, the famous Piccadilly Lights complex has only been available to powerful brands looking to invest for the long-term, but Piccadilly Lite will offer an effective space for advertisers looking to capitalise on the estimated 900,000 visitors to the Capital from July 2012 right through to the Paralympics.”