Toronto bike share probing loyalty program, seeking $41M in new funding
Global News
Bike Share Toronto is looking at introducing a loyalty program, among other revenue streams, in a bid to end years of operating at a financial loss.
Bike Share Toronto is looking at introducing a loyalty program, among other revenue streams, in a bid to end years of operating at a financial loss.
The new revenue streams, which include digital advertising networks, feature upsells and advanced reservations, were detailed in a report adopted by the Toronto Parking Authority (TPA) on Friday.
That report detailed a new five-year strategy for the program, which is managed by the TPA and is set for yet another record year in ridership.
“By year-end, BST ridership is forecasted to reach a record 8.1 million trips powered by a fleet of 10,251 bikes including 2,319 e-bikes across all 25 wards,” the report reads.
“Our proposed strategy is thus grounded in a new aspirational vision: To inspire and mobilize one million unique BST customers and establish Bike Share Toronto as a trusted, valued and indispensable transportation option for residents and visitors alike. Our winning objective is to build a network that will generate 14 to 16 million trips per year by 2030 representing a 70 to 100 per cent increase versus 2025.”
To execute its new strategy, the TPA is seeking $41.7 million over five years for e-bike fleet expansion, e-charging docking points, station densification and supporting digital infrastructure; $3.5 million annually will be allocated for state of good repair to enhance system reliability, resiliency and security.
BST began as Bixi Toronto in 2011, with 1,000 bicycles available from 80 locations primarily in the downtown core.
The TPA took over the program in 2014, giving it its current name and expanding it into a citywide network.
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