Jill McLaughlin, BFI's director of resources and planning, said: "While using the IMAX drum for advertising has proved contentious, it provides valuable income for the BFI - all of which goes to furthering our cultural aims, including caring for the BFI National Archive - at a time when public funding is very limited and costs are increasing."
Ocean Outdoor won the original 12-month contact in April 2006, following a four-way pitch, believed to have been against JCDecaux, Titan and Clear Channel. Advertisers have included Deloitte and H&M.
The IMAX is the UK's largest outdoor site, measuring 120x15 metres, and circling the roundabout next to Waterloo's domestic and international rail stations.
Damian Cox, managing director at Ocean, said: "This is an important site for us and to have been awarded the long-term contract is a fantastic reward for the hard work that's gone into making the BFI IMAX one of the capital's most sought-after locations."
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