Reverse Auction Company Cites Radio Sales Successes

Bid4Spots says it is now the nation’s largest radio ad network, a brassy claim for a service barely seven months old. It says it has some 2,000 radio stations participating, “representing nearly all of the top 300 U.S. markets – in effect making Bid4Spots the largest radio advertising network in the country.”
The company was launched in September, describing itself as an online marketplace for unsold radio ad inventory. It said during NAB the value of auction results among its client stations to date had surpassed $1 million.
The company offers an online patent-pending “reverse auction” model for remnant radio. Participants bid ad rates down and the lowest bidder wins. Advertisers and ad agencies also are enrolled.
The company says it moves about $100,000 weekly in remnant sales. “The new advertising marketplace now covers some 41 percent of the Arbitron-rated radio market and an aggregate listener base of roughly 55 million Americans, per Arbitron data,” it stated.