February 4th, 2011
The mirage of subway naming-rights deals
Every few months, as budget news trickles in and transit executives start talking about alternative sources of money and revenue streams, naming rights are dragged up by activists and enthusiasts. The idea is that resourceful authorities looking to generate free money can sell naming rights to private companies who stand to benefit from brand recognition. Disney owns Times Square above ground so why not sell the name of the Times Square subway station to the company?
On paper, it’s a great idea, and yet, in reality, it is one that has gained very little traction. In Philadephia, AT&T purchased the naming rights to the former Pattison Ave. complex at the end of the Broad St. line. They’re paying $3 million over five years. In New York, Barclays will append its name to the Atlantic Ave./Pacific St. complex with the Nets’ new arena opens, and they’re paying $200,000 a year for 20 years for that privilege.