Indian Railways on 8 March 2016 appointed Ernst & Young (EY) as a consultant to discover the advertising potential in trains and railway stations. The move aims at enhancing revenue through non-fare box route.
The Railway PSU - RITES, the consulting wing for Indian Railways, awarded the mandate to EY following a multi-party bid.
EY will identify assets and formulate a pricing strategy for advertising across 7000 railways stations in the country.
This is the first time in India that such a large scale project on advertising for Railways has been initiated.
EY and Indian Railways will engage with leading advertisers through the course of the project for effective optimization of railway assets.
A unique aspect of the exercise will be the creation of a neutral assessment on the return of investments by advertisers in this medium.
Tasks assigned to EY
• Tapping the advertising potential of Indian Railways assets including fleet of trains spread in a wide network of about 7000 railway stations across India.
• EY with its specialized offering Marketing and Advertising Risk Services (MARS) will help the Indian Railways to identify assets across its stations for the purpose of advertising.
• It will also develop a pricing strategy to evaluate them for advertisers.
About Ernst & Young
• Ernst & Young is a multinational professional services firm headquartered in London, United Kingdom.
• It is one of the Big Four audit firms and is the third largest professional services firm in the world by aggregated revenue in 2014, after PwC and Deloitte.
• The current firm was formed by a merger of Ernst & Whinney and Arthur Young & Co. in 1989.
• It was known as Ernst & Young until 2013, when it underwent a rebranding to EY.
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Who: Ernst & Young
When: 8 March 2016