Bid4Spots says its online auction business is thriving.
A few days before Google announced a planned end to its efforts to create a new radio ad sales business, spot auction house Bid4Spots put out an announcement that its year-over-year revenue had increased by over 90 percent in 2008.
Bid4Spots uses an online auction to once a week auction off prospective remnant ad spots of participating stations. Bidders for the spots are advertisers, national, regional or local.
Founder/President/CEO Dave Newmark said his company now has a “thriving network of 2,500 stations and 3,200 advertisers that come together at the same time every Thursday to do business with each other in a live online auction.” He said Bid4Spots doubled its activity last year, “even in the midst of predictions of doom and gloom, and as industry heavyweights struggled.”