Outdoor advertising Statements Media has acquired all of Sharkfin Canada, its main competitor in the taxi advertising market.

Sharkfin specializes in taxi top advertisements. The move doubles Statements’ total taxi offering from about 700 to 1,400 total faces, with 1,000 in Toronto and 400 in Montreal. It also has an offering of taxicab wraps in smaller markets such as London, Kitchener-Waterloo and Mississauga.

Adam Watson, VP of business development told MiC that having only two players in the market was challenging. “That competition not only plays out along the front-end with clients, for rates, but it’s a bit of a distraction on the back-end with the cab fleets,” he said. “They’re constantly playing us off against one another for higher rents. On both ends you’re getting squished.”

Read more – source: by Bree Rody-Mantha – Media In Canada)