Bid4Spots Nearly Doubled In Size In 2008
February 6, 2009 at 5:27 AM (PT)
Video didn’t kill the radio star, and neither will a recession nor a tumbling ad market. During what was a tumultuous year for both radio and advertising, BID4SPOTS said its online marketplace for radio airtime roughly doubled in size. The company reported a 93% increase in total ad revenue generated for radio stations in 2008, compared with 2007.
"We’re extremely proud of the growth we’ve experienced, because it’s a clear sign that what we’re doing is helping advertisers and stations connect with each other in a way that works for everyone," said CEO DAVE NEWMARK. "Otherwise, they wouldn’t come. We’ve got 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. We doubled that activity last year, even in the midst of predictions of doom and gloom, and as industry heavyweights struggled. We could only do that with a winning formula."