Primero Transport Services Limited has partnered with Value Media Limited to launch BRT TV. The TV station is an exclusive broadcast service for the Lagos bus rapid transport in Lagos, Nigeria’s commercial capital.
According to Value Media, the channel will offer a combination of original broadcast content and other syndicated content to give BRT passengers a special experience in transit TV viewing.
Following the presentation of Value Media it is glaring that the company is aiming targeting advertising as its main revenue model. This is by default a major focus for all ventures who have at one point in time started display advertising in BRT buses.
From the arrangement of the venture, Value Media is into an exclusive partnership with Primero Transport Services. The exclusivity will afford the company to install its screens on all the 400 buses owned by the company.
It is unprecedented (not really innovative) that a ‘broadcast channel will be running on a public transport, the ability of Value Media and its team to create content that would really interest passengers would determine its success.
There is the temptation to basically spam the screens with music, drama and entertainment content as it was done in the past. Should BRT TV fall into the trap, advertisers’ interest in signing up to repeat media buys might wane.
As a result of the changing nature of BRT and a sharp difference between Primero’s average ticket price compared to other vendors and yellow buses, the target audience for Primero’s network are psycho-graphically different from its peers and as such the company might need to dig into bigger pool of data to understand how it will properly monetize its TV service.
However, the idea of going strictly for advertising model might also restrict the potential of the company to earn more and grow beyond its potential. It will also be beneficial for the company to see this as a startup that would need time to grow, crawl and learn to walk.
Primero Transport the is the exclusive operator of the blue BRT bus franchise in Lagos, the company’s investment in the business is estimated around NGN1o billion with major debt finance from Sterling Bank PLC.
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