Bid4Spots is seeking to expand its reverse auction marketplace for advertisers and broadcasters to the United Kingdom.
The company said it was chosen among competing electronic platforms and will conduct its first weekly auction in the third quarter. Paul Mitchard is heading its operations there. The UK operation will be run by AuctionMedia, which is being advised by ad firm RadioWorks.
“The value of the U.K. radio market is estimated to be 800 million pounds,” Bid4Spots stated. “The relatively young industry — commercial radio began there in 1973 — attracts about the same percentage of advertising budgets as radio does in the United States.”