Two developments have brought these type of activities back to
the forefront in 1993.  First, in February, the Russians deployed a
20-m reflector from a Progress vehicle after it had departed from
the Mir Space Station.  While this "Banner" reflector was blank,
NPO Energia was very active in reporting that future  Banner
reflectors will be available to advertisers, who could use a space-
based video of their logo or ad printed on the Banner in a TV
commercial, as filmed from the Mir.
   The second development, has been that Space Marketing Inc, the
same company responsible for merchandising space on the Conestoga
booster and COMET spacecraft, is now pushing the "Environmental
Billboard".  As laid out by SMI Chief Engineer Dr Ron Humble of the
University of Colorado Space Laboratory and Preston Carter of the
Lawrence Livermore National Laboratory, the "Environmental
Billboard" is a large inflatable outer support structure of up to
804x1609 meters.  Advertising is carried by a mylar reflective area,
deployed by the inflatable 'frame'.
   To help sell the concept, the spacecraft responsible for
maintaining the billboard on orbit will carry "ozone reading
sensors" to "continuously monitor the condition of the Earth's
delicate protective ozone layer," according to Mike Lawson, head of
SMI. Furthermore, the inflatable billboard has reached its minimum
exposure of 30 days it will be released to re-enter the Earth's
atmosphere. According to IMI, "as the biodegradable material burns,
it will release ozone-building components that will literally
replenish the ozone layer." The remaining spacecraft will monitor
the atmosphere for another year before it, too, re-enters and burns
up and "adds to the ozone supply."
   This would not be a cheap advertisement, costing at least several
millions of dollars (exact costs were not available).  But SMI
estimates that market exposure would be 3-5X that of the people who
watched the SuperBowl, where a 30-second advertising 'unit' cost
$600,000.  Since SMI is located in Atlanta, Georgia, it is being
promoted as being available in time for the opening of the 1996
Summer Olympics in Atlanta.
  
But back to Brian's questions:
  
    See above. As for serious -- if they can get $15-20 M or so (my
estimate of $5-10 for development costs and a flight unit, plus
$10-15 M for a launch), then it's probably real.  They are claiming to
tailor the orbit to overfly specific locations at specific times for
optimum advertising impact so they probably can't piggy back upon
someone else's planned launch and will have to buy a dedicated
launch.  That's a $10-15 M cost they need to raise, right there.
    And there will probably be some legal challenges to this as
well.  Note there is one potential legal challenge to SMI on the use
of launch vehicle advertising already.  While I don't think the
legal challenges would win out (and yes, I am an amateur astronomer,
and no, I don't really like the idea of this additional light
pollution, but I know of no prohibition of it...),  the legal
challenges and court fights would probably remove any positive
aspects of the advertising.  I can imagine several ways to make the
advertisers look like louts for doing this -- which would change
positive market exposure to negative market exposure, and negate the
space advertising advantage.  (Would you spend $15 M to look like an
idiot?)
   (And light pollution might not be too bad -- if it's in a low
enough orbit, and it relies upon reflected light only, it would
only be visible for a short time just after local dusk and before
dawn.  For maximum market exposure, you want to have it visible just
after dusk --minimizing impact on astronomy, since that's the time
of worse seeing due to day/night thermal turbulence.  It might still
be a problem, but perhaps there are ways to mitigate this...)
    As for having real funding -- none that I can identify.  There
were about 60 expressions of interest made on the Conestoga
advertising opportunity, but that included curious folks and was for
only a $500,000 commitment.  I haven't heard of any serious funding
for this, but I'm sure they are shopping the venture around looking
for some money in order to flesh out the concept some more.  But I
am confident there are no firm or paying customers at this time.
  
   And if anybody wants to cross-post this to sci.astro, please be
my guest.  I don't have posting privileges to that area (or at least
I don't THINK I do...).
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 Wales Larrison                            Space Technology Investor