In the build up to the London 2012 Olympics, premium outdoor sites around the stadium and at other key locations are first offered to the official games sponsors. The initial rounds of the bidding process have took the format of an online auction with sites having a total reserve price set at around £72 million.

So far, media buying sources have revealed official sponsors have snapped up less than half of the outdoor sites available during the Games. Despite the £72 million of inventory available, tier-one sponsors such as British Airways and Cadbury are said to have only spent around £21 million on sites with a further £10 million being taken up by lower tier sponsors. Because of this, it’s expected much of the remaining space will be back on the open market by July.

Sites still available include the wrap of the Canary Wharf Tower which has a reserve price of £4 million! 

MEC View - With the sheer volume of outdoor opportunities available to advertisers throughout London and other UK hosting towns/cities, it is no surprise that the key sponsors have not secured all available formats. It's great news that opportunities still remain for 'non-sponsors' to secure a presence within the heartland of what will become an Olympic infatuated country next year. However, one big concern could be an advertiser's ability to truly achieve stand out during this time. Those who make the most of digital formats could prove to be key winners if they use this format to it's full potential and truly engage their audience.