Bid4Spots Moves Into Europe
5/8/07 – Bid4Spots, the Encino-based online auction of radio advertising time, today announced the launch of a new reverse auction marketplace for radio airtime in the United Kingdom.
The company says the U.K. auction was a response to a request from commercial broadcasters there, who evaluated various electronic platforms and chose Bid4Spots for its innovative approach to selling inventory. Bid4Spots U.K. officially launches with its first auction in Q3 this year, with the weekly auctions being held every Thursday, according to the company. Bid4Spots U.K. is being advised by U.K. radio specialist RadioWorks, with Paul Mitchard, a radio advertising veteran, appointed to manage operations.
Bid4Spots says its U.S. marketplace for terrestrial radio is currently used by more than 2,300 radio stations nationwide, more than 1,300 advertisers and more than 260 ad agencies participating.
The company faces potential competition from Google, which last year purchased dMarc Broadcasting in a bid to enter radio ad sales. So far, however, implementation of the Google system has been limited.
Bid4Spots utilizes reverse auctions that allow radio stations to compete for advertisers’ dollars and bid the ad rates down. The idea is to give advertisers and ad agencies simple access to radio at competitive rates, and broadcasters an easy, flexible way to sell last-minute airtime, increase revenue and attract new advertisers.
Bid4Spots - www.bid4spots.com
