Dec 04 - GSD Calls For Full Disclosure Of Big Publications Advertising Revenue
The Opposition says it notes the statement issued by Big Publications Limited last week in relation to its failure to generate anywhere near the amount of bus advertising revenue for the Bus Company that it proposed to generate back in 2012.
The GSD says it is surprised to learn that the contract had been 'handed over,' back to the Bus Company back in September of this year. The Opposition questions why the Government failed to reveal such an important fact when questioned in Parliament about the issue only a few weeks ago. Surely, says the GSD, the Minister must have been aware that this had happened, particularly since he knew that audited accounts had been requested from Big Publications as a result of the “very poor performance” of the company.
The GSD now poses the following questions: Did the Minister know at the time of the last session? If he did, why didn't he say? If he did not why didn't he?
The Minister must have known for some time, argues the Opposition, that the contract was not being administered to the benefit of the bus company as had been proposed and the Opposition is now keen to understand what action was taken and, if none was taken, why.
Shadow spokesman for Transport, Selwyn Figueras, explained further: "When the amount of income the bus company was receiving for advertising on the buses from Big Publications went into such steep decline almost immediately following the allocation of the contract to them, did the Government act to remedy the situation? If not, why not? This issue is all the more galling because Big Publications, owned by stalwart supporters of the Government, was allowed to sell advertising, not just on the back of the buses, but also on the side of the buses and on the bus stops themselves, something the previous contractor had not been allowed to do and which would have therefore limited the amount the previous contractor itself could generate."
The Opposition now calls on the Government to make public full details of all advertising revenue generated by Big Publications from the sales of advertising on the back and side of the buses in addition to advertising on the bus stops since it took the contract on in 2012.
"We need to know how much this contract is worth in the simplest terms - at a conservative estimate of £400 per month per bus for just the back of the bus, for twenty buses, we're looking at just under £100k of revenue to the company every year, without considering all the other adverts. Last year in comparison, the Bus Company received just £8,000 from the Big Publications.
"I believe that these figures, detailing how much exactly has been sold to advertisers, how much revenue the company has generated, are important for the people of Gibraltar to know. Advertising on the buses certainly doesn't cost chicken feed - we're talking about good money here, what was the pricing structure and what cut was Big Publications going to take?" said Mr Figueras.
He continued - "At a time when there's been advertising all over the blue buses and the bus stops, Big Publications must surely have been generating significant sums of revenue - we need to know what's happened here and the Government need to provide that information to us. I note that audited accounts have been requested from the company, but the Government should not leave any stone unturned in understanding and disclosing to the people what exactly has happened."
