Bid4Spots Records Record Radio Auction
2/12/07 – Encino-based Bid4Spots, the reverse-auction site for radio advertising time, today reported that its terrestrial radio auction reached an all-time high for the broadcast week of Feb. 5—awarding auction winnings with an aggregate value of $224,000 among its participating radio stations.
Bid4Spots says this is the most advertisers have spent in a one-week period since the company’s terrestrial marketplace launched in 2005. The company says that advertiser participation has been growing rapidly, with approximately 1,500 advertisers and agencies now signed into the system.
In addition, Bid4Spots claims that its just-launched reverse auction for Internet radio increased by more than 300 percent from week one to week two.
“While others are talking and speculating about the next big thing in radio, we’re doing it – building two distinct marketplaces that successfully bring advertisers and radio broadcasters together,” said Dave Newmark, Bid4Spots CEO. “These high marks confirm that our model works.”
According to the company, its reverse auctions allow radio stations to compete for advertisers’ dollars and bid the ad rates down.
Bid4Spots also recently launched a reverse auction for Internet radio through a partnership with Spacial Audio Solutions.
Bid4Spots – www.bid4spots.com
