Bid4Spots Expands To UK
May 8, 2007 at 3:19 PM (PT)
BID4SPOTS today announced that it is crossing the ATLANTIC to launch a new reverse auction marketplace for radio airtime in the UNITED KINGDOM. BID4POTS UK officially launches with its first auction in Q3 2007, and the weekly auctions will be held every THURSDAY. BID4SPOTS UK is being advised by UK radio specialist RADIOWORKS; UK radio ad veteran PAUL MITCHARD has been appointed to manage operations.
"In just two years we've taken a brand new business model and successfully adapted it for the established U.S. terrestrial radio market, the emerging Internet radio sector, and now the UNITED KINGDOM," said BID4SPOTS CEO DAVE NEWMARK. "I chose RADIOWORKS to advise us in the UK because no other company understands the marketplace as they do. Our idea for online reverse auctions originated with one client asking us to improve the process of buying last-minute radio airtime. Because we know radio, we know advertising, and we know many of the industry's decision makers, we’ve been able to turn that seed of an idea into what BID4SPOTS has become today -- a network of marketplaces that have been enthusiastically embraced by both sides."
MITCHARD said, "We're bringing something entirely new to radio airtime sales. Getting into any media at short notice in the UK has always been a challenge, but with BID4SPOTS advertisers gain access to late availability airtime at low cost. Meanwhile, stations like the system because they maintain control over their inventory, even as they open it up for more revenue and new advertisers -- many who've never considered radio in the past."