Exterion Media has secured an outdoor advertising contract from the UK’s Transport for London (TfL), which will see the marketing spaces across its extensive rail network being sold to the media company.

Under the deal, Exterion Media will combine advertising spaces across London Underground, London Overground, Tramlink, Docklands Light Railway and Victoria Coach Station, as well as the Elizabeth line upon its completion.

The media firm will install responsive digital screens carrying different campaigns at pre-decided timings, facilitating competent options for advertisers.

TfL commercial development director Graeme Craig said: "We had highly competitive bids from the leading outdoor advertising companies in the world, reflecting the quality and value of our estate.

"We believe this partnership can be a catalyst for transforming our stations and the wider industry."

"We believe this partnership can be a catalyst for transforming our stations and the wider industry. The new contract will move away from the traditional concessionary approach to working together to deliver innovation and value on the best station network in the greatest city in the world."

Subject to regulatory approvals, the deal is expected to be finalised in April.

Services under the new contract are expected to start on 1 October.

The contract was awarded as a part of TfL’s commercial plans to maximise its assets to generate non-fares revenues.

The transport authority aims to generate £3.4bn in commercial revenue by 2023, with the new contract alone contributing an estimated £1.1bn.

Earlier this month, media reports emerged about media company Clear Channel withdrawing from the bid citing TfL’s demands as the reason.

France-based JCDecaux had also participated in the competition.