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05/26/2009

Bid4Spots Launches Cable TV Advertising Marketplace

Bid4Spots has unveiled a new online marketplace for cable television advertising � becoming the first to organize cable advertising nationwide down to the neighborhood, bringing advertisers and cable systems together in a way that makes the process of buying and selling cable TV ads more convenient and cost-effective for both parties.

Offering premium local cable TV airtime at discounted rates for the following broadcast week, Bid4Spots gives both sides relief in this sluggish economy � great rates for advertisers, a much-needed new revenue stream for local cable operators, and a flexible approach to buying and selling with no hassles or long-term commitments. Bid4Spots created this new marketplace in response to advertiser demand, adapting the reverse auction model that has successfully transformed the way last-minute radio airtime is bought and sold.

Bid4Spots will host an online reverse auction every Thursday, in which advertisers will make known their intention to buy airtime within certain parameters for the following week, and the relevant cable systems compete for that business � bidding against each other to drive the rates down. The first auction will be June 11; advertisers and cable systems can sign up for the marketplace now at www.Bid4Spots.com.

�The Bid4Spots marketplace offers a much-needed revenue source for cable systems, and has the potential to change the buying habits of advertisers,� said Neal Schnog, former vice chairman of the American Cable Association and current CEO of New Day Broadband. �It gives advertisers a great opportunity to test something different, and to find out almost instantly what works and how to get the best rates.�  

�Buying and selling advertising, no matter the medium, is all about reaching the right audience,� said Dave Newmark, Bid4Spots founder and CEO. The company�s online marketplace for radio airtime, launched in 2005, roughly doubled in size last year � even as both the radio and the advertising industries struggled.

�With this launch, we�re the first to organize cable TV advertising nationwide down to the neighborhood and by audience demographic, so we can help advertisers target their audiences on a national or local scale,� said Newmark. �A marketplace will only thrive if it offers value to all parties, so we�ve designed this one to empower each side with control over the elements that are most important to them.�

Bid4Spots has organized the most comprehensive registry of the nation�s local cable TV systems � creating a database that will match an advertiser�s stated target audience with all the local cable systems that provide that particular audience reach.

For cable operators, Bid4Spots offers an efficient, risk-free way to sell available airtime. Industry sources estimate that roughly 10 percent to 25 percent of local cable TV airtime typically remains unsold. Local cable accounts for 10 percent of all cable advertising. Based on 2007 numbers, local cable ads totaled about $2.63 billion. If 10 percent to 25 percent remained unsold, that�s an aggregate total of $263 million to $657 million in lost revenue due to unsold inventory.



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