Bid4Spots held its first reverse auction in the United Kingdom in September to sell last-minute airtime.
The Bid4Spots systems gives advertisers new chances to place last-minute advertisements at discounted rates, while helping radio stations increase revenue by selling last-minute-available airtime.
Bid4Spots is run in the United Kingdom by Auction Media. Paul Mitchard, previously the head of commercial scheduling for GCap Media, manages operations.
“The U.K. radio industry has been really supportive in getting behind this new initiative,” said Mitchard. “… Advertisers have shown a lot of interest as well, and it’s great we are under way.”
The U.K. auctions will take place every Thursday morning at 10 a.m. GMT.