Quadrant backs QMS investment despite City of Sydney review and delaysPosted by On

The network includes 500 digital and 140 non-digital screens sold in 30 packs tailored to segments such as luxury retail, consumer goods and moviegoers. It covers 26 kilometres and reaches 2.6 million people a week, two-thirds of whom come from outside the City of Sydney area. The contract is worth $450 million to the council over its 10-year period.

But it hasn’t been smooth sailing. Lockdowns and rain delayed construction by months. Despite being approved by the council’s design panel, one Sydney city councillor described the project as having “major flaws … which have been noted in the media, on social media and by constituent correspondence”.

QMS Media boss John O’Neill.  

The City of Sydney says its external review will report back in early May.

“There’s always going to be occasions where things need to be moved a metre or two metres,” Mr O’Neill said.

“We’re just going to continue to work closely with the city, as we do. We don’t see any major issues.”

In late 2019, months before the global pandemic, QMS was bought by private equity firm Quadrant. Since then, it has grown its market share from 9 per cent to 15 per cent. Rumours of a sale have swirled ever since.

“[Quadrant] generally hang around in businesses for, you know, two or three years and then move on to other opportunities,” Mr O’Neill said.

“It’s almost like we’ve been a skinny teenager, and now we’re at the stage where we’re sort of growing up into fine young people….

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