Dec 5, 2002/FW/ -- magink™ display technologies, Inc., a developer of full-color digital ink technologies, on December 4 announced an agreement with Mitsubishi Electric Corporation to create the world's first large-scale, full-color digital ink displays for the outdoor advertising industry.

Mitsubishi Electric is a pioneer in large-scale video display equipment and the creator of DIAMOND VISION*. Terms of the agreement, which incorporate technology licensing, product development and marketing, were not disclosed.

(Photo courtesy of Magink)

By integrating magink™ digital ink technology with Mitsubishi Electric's leadership position in large-scale video display, the companies will offer a cost-effective, flexible and powerful new medium that represents outdoor advertising's next generation.

Among its many benefits, the display provides outdoor media companies with new revenue streams, such as the ability to sell space by day-part (an opportunity currently afforded only to broadcast and online advertising); offers advertisers a far more versatile, targeted and high resolution creative canvas; and greatly reduces expenses associated with conventional outdoor advertising such as printing, manpower, and maintenance.

"Utilizing our proprietary digital ink technology, the large-scale digital ink displays manufactured by Mitsubishi Electric will provide genuine revenue-generating and creative opportunities for outdoor media companies, advertisers and advertising agencies," said Ran Poliakine, CEO, magink.

"We believe this relationship will help foster a new age of electronic digital outdoor advertising."

For example, a television network could rotate advertisements promoting different programs throughout the day or week, and even have the ability to make changes, such as posting reviews of a brand-new program almost immediately at one location or at every location.

All of the changes can be implemented in a matter of minutes from a remote site situated anywhere in the world.

Worldwide, the outdoor advertising market is approximately a $19 billion industry with the U.S. representing $5.2 billion in 2001. The outdoor advertising market includes billboards, stadium and arena signage, transit displays (buses, trains, taxis), and "street furniture" (bus shelters, newsstand/newsrack panels, information kiosks, public telephone panels, etc.).

*DIAMOND VISION is a registered trademark of Mitsubishi Electric Corporation in some countries and areas, including but not limited to the USA and Japan.