The Massachusetts Bay Transportation Authority awarded a new advertising contract on Tuesday aimed at boosting digital advertising revenue and improving the customer experience.

The new advertising firm, New York-based Outfront Media Inc., has signed a five-year contract after an extensive bidding and review process. The company will oversee all advertising for the MBTA, but the focus will be on implementing 700 more digital advertising screens in the next few years across the system — namely on station walls and in vehicles, with an emphasis on high volume locations.

The idea is to use the digital screens to connect with riders, offering useful information including train times, weather reports, and emergency alerts, in addition to advertisements.

Currently, the MBTA has 80 digital screens in seven stations and 10 screens on the streets.

The agreement stipulates that the MBTA will receive 70 percent of Outfront’s advertising revenue. Outfront will pay for the screens and the agency anticipates $136 million in revenue by 2021.

“They have a very like minded philosophy in terms of customer experience,’’ said Rose Yates, assistant general manager of customer communications and marketing for the MBTA. “Outfront understands it’s not just about advertising. The advertising improves when you also provide information to customers and when customers appreciate that.’’

Outfront Media has already worked with the transportation agency since 2014 on five MBTA-owned billboards.

Hae Young Yoo can be reached at haeyoung.yoo@globe.com. Follow her on Twitter @HaeYoung_Yoo.