UPDATE: TargetSpot targets June 28 launch date.
Jeffrey M. Haley, CEO, Radio Advertising Bureau, on the $20 billion industry: "Revenues have been flat for the past five years ut the radio industry is committed to growing revenues and finding new ways to make it more efficient and easier to buy advertising."
How so? TargetSpot to the (would be) rescue.
APRIL 26, 2007: What is TargetSpot?
A revolutionary new advertising platform that enables businesses of all sizes and budgets to advertise their products and services to the ever-growing Internet radio listening audience. Streaming video capabilities soon as well.
With TargetSpot, you can create ads using a suite of easy-to-use production tools or simply upload your own ads, and then use innovative Targeting, Campaign Management and Bidding systems to determine who hears your message, where they hear it, how they hear it and when they hear it.
Sound Googley familiar, as in Google Radio Audio Ads perhaps? Google is not the brainchild behind TargetSpot though, CBS Radio is!
CBS Radio is founding partner of the new venture and will use the technology on its more than 100 music, talk, sports and news radio stations broadcasting live online.
Doug Perlson, CEO and co-founder:
This is the first platform to allow all businesses, regardless of size, to easily and cost-efficiently utilize streaming media advertising. TargetSpot democratizes what has traditionally been the domain of large advertisers with big creative budgets.
Has Perlson been listening to the Google Ad Sales pitches? TargetSpot touts:
Reach listeners nationwide or locally.
Advertise to a demographically desirable audience.
Target customers across the country, by region, by state or by market, or in your service area, right down to the Zip code.
How did TargetSpot come to be?
TargetSpot has been in development for over a year and originated from CBS Radio's desire for a in-house end to end ad serving solution for the streaming radio stations it operates.
TargetSpot’s core technology was built in collaboration with Oddcast. Perlson was recruited to turn the technology into an independent business and to expand into streaming video as well. Perslon hails from Seevast (formerly Kanoodle) and About.com.
Union Square Ventures, a founding financial partner, on the opportunity:
TargetSpot is a full-featured ad network that supports a wide range of hyper-targeting technologies that make it possible for local and national advertisers to comfortably place, target, and buy internet radio. TargetSpot also features a self serve bidded advertising market like what is provided by Google and others in the search advertising world to make it easy for the small business to purchase audio advertising.
The TargetSpot platform:
- Powerful Targeting - Target your ads locally or nationally with full control over the audiences you want to reach.
- Free Ad Creation - Access a suite of free and easy-to-use tools to create your own ads!
- Easy Management - Manage and control every aspect of your ad campaigns through one interface.
- Market-Based Bidding - Purchase your ads through a market-based bidding system that is designed to give everyone a fair chance at reaching desirable audiences based on what they are willing to pay.
- Timely Reports - Access timely reports so you can monitor the effectiveness of your advertising on a daily, monthly or annual basis.
TargetSpot starts with CBS Radio online, next streaming video...then terrestrial radio?
Is Google worried? Google Audio Ads are aligned with ClearChannel, under 5% of its inventory that is.
CBS Radio is going the who needs Google route, for now at least.