Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Advertising Agency Owes Cash-Strapped MTA $18 Million
By
Ben Muessig
Published Feb 9, 2010
Modified Feb 9, 2010
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Ben Muessig
Published Feb 9, 2010
Modified Feb 9, 2010
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
In order to avoid far-reaching subway cuts that would eliminate the M and W lines and cause trains to become less frequent and more crowded, the MTA needs about $18 million—the same amount a deadbeat advertising company owes the transit agency. An MTA audit revealed that Titan Outdoor Holdings has come up short on its monthly payments for almost a year, but the MTA is afraid that recouping the money might bankrupt the company, causing the agency to net even less revenue.
According to the Daily News, Titan's contract promises the MTA 72 percent of gross revenues or $5.4 million a month, whichever is greater. Though that rate is the highest in the industry, the company hit the mark in 2007 and 2008. But since the recession hit, business at Titan has gone downhill. Since February 2009, Titan has only given the agency about $4 million per month, and an MTA audit revealed the company has filed financial statements late and under-reported revenue, demonstrating a "continued pattern of noncompliance with its financial reporting."
But right now, as the MTA considers "Doomsday" service cuts and faces another budget shortfall next year, officials worry that if they fire Titan, it's unlikely another ad company would sign on to pay the same rate. That means, the MTA might turn out renegotiating its contract with Titan to accept lower payments. An MTA spokesman told the paper: "We're exploring all of our options."
Tagged
ad
ad agency
advertising
advertising agency
m train
metropolitan transportation authority
MTA
service
subway
subway cut
subway service
titan
titan outdoor holdings
transit
transit cut
w train
Ben Muessig
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
NYC Council to consider earlier Legionella reporting after deadly outbreaks
A bill facing a hearing Monday would require cooling tower owners to notify city health officials when bacteria levels reach a much lower threshold.
By
Catalina Gonella
Published Oct 18, 2026 at 7:36 p.m. ET
Staten Island fire injures 2, but spares historic 'Godfather' church
Dozens of firefighters responded to the blaze, which started in a vacant warehouse. It was contained within three hours.
By
Giulia Heyward
News
Staten Island fire injures 2, but spares historic 'Godfather' church
Dozens of firefighters responded to the blaze, which started in a vacant warehouse. It was contained within three hours.
By
Giulia Heyward
Bail reform remains major issue in NY governor's race, 7 years after it became law
By
Gino Fanelli
NYPD identifies Bronx man, 26, killed in Midtown subway shooting
By
Ryan Kost
,
Elizabeth Kim
and
Phil Corso
Have you seen this Yorkie? NYPD looking for adorable pup dognapped from her Queens home
By
Ryan Kost
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .