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.