Bid4Spots Opens Auction June 1118 Jun, 2009 Response This Week
ENCINO, Calif. – Bid4Spots held its first public auction for cable TV airtime on June 11. The new online marketplace for cable television advertising was introduced last month and has held private test auctions prior to Thursday’s public sale.
The offer is premium cable TV airtime at discounted rates for the upcoming broadcast week. Advertisers and cable systems can sign up for the marketplace and make deals for last minute air time, similar to the way it is done successfully in radio advertising.
“So far, the response from both advertisers and cable operators has been very positive,” says Dave Newmark, founder and CEO of Bid4Spots. “We already have local cable systems from many large markets around the country, and that number is growing rapidly. Advertisers that need to reach people nationwide are especially interested in how our marketplace finally makes it easy to buy time on certain cable networks in particular markets at great rates. We offer both sides a level of control and flexibility not often found in cable TV advertising.”
The reverse auction will take place online every Thursday from 8 a.m.-noon Pacific time. Advertisers will make it known their intention to buy airtime, within certain parameters, for the following week and cable systems will be able to compete for their business.