URW, which runs 78 shopping centres in 12 countries, launched its in-house retail media agency for Europe, Westfield Rise, in October last year to bring its advertising offerings under one banner.
Westfield Rise contributed 19.6 million euros in net margin for the group over the first half of this year, up 14% compared to the first half of 2022, URW said on Thursday.
The mall owner has 1,700 digital billboards in its shopping centres across Europe, and 170 dedicated spaces which it markets as offering brands "physical" contact with consumers.
URW has been disposing of shopping centres in the U.S., including in downtown San Francisco where it expects a foreclosure of its Westfield mall near the troubled Tenderloin district.
"The idea is really to reduce our exposure to the U.S., and to be a pan-European pure play," Tritant said.
Persons:
URW, Jean, Marie Tritant, Tritant, Helen Reid, Alison Williams
Organizations:
Westfield, Rise, Thomson
Locations:
Westfield, Europe, United States, U.S, San Francisco, Tenderloin