SOURCE: TargetSpot

TargetSpot

December 01, 2009 09:00 ET

TargetSpot Adds Leading Radio Groups to Online Radio Advertising Network

Terrestrial Stations Tribune Broadcasting and Emmis Radio Turn to Online Radio Advertising

NEW YORK, NY--(Marketwire - December 1, 2009) - TargetSpot Inc., the nation's largest online radio advertising network, announced today the signing of four top terrestrial radio companies to its network of online streaming music and radio providers. Tribune Broadcasting, Emmis Radio, Lincoln Financial Media, and ICBC Broadcast Holdings have all joined the TargetSpot online radio advertising network in order to monetize the online streaming of their content. Working with TargetSpot offers radio groups a unique online radio advertising revenue source, and provides leading agencies and brands a fresh channel to reach consumers online in key markets, across an extensive network of over 75 TargetSpot network partners.

"As a traditional broadcaster, it is important for us to align with a partner that is well-versed in the online space," said Keisha Sutton-James, Vice President of ICBC Broadcast Holdings. "TargetSpot's advertising network is designed to bring the most value to online audio and, in working with them, we're better positioned to grow digital revenue."

The four new additions include national radio networks and stations in regions throughout the country:

--  Tribune Broadcasting -- Tribune's WGN-AM is a top-rated news and talk
    station in Chicago, Illinois.
--  EMMIS Radio -- The division of Emmis Communications owns stations in
    the top three national markets: Los Angeles, New York and Chicago; as well
    as in St. Louis, Indianapolis, Terre Haute, and Austin.
--  Lincoln Financial Media -- operates stations in Atlanta, Miami, Denver
    and San Diego.
--  ICBC Broadcast Holdings -- ICBC Broadcast Holdings operates radio
    stations in New York, San Francisco, California, Columbia, South Carolina,
    and Jackson, Mississippi.
    

Like many terrestrial radio stations, Tribune, Emmis, Lincoln, and ICBC are looking towards online streaming of music, talk, news and sports shows to extend their reach beyond traditional broadcast audiences and take advantage of a shift in ad dollars. Internet radio, as reported by eMarketer, is increasing ad revenues year over year and is one of the fastest-growing online media categories. It's estimated that advertisers will spend $394 million on Internet radio by 2011, as advertisers look for fresh channels to reach consumers.

"Radio groups are facing significant challenges in their terrestrial broadcast businesses and recognize the tremendous revenue growth opportunity immediately available to them in streaming their media online," said Eyal Goldwerger, CEO of TargetSpot. "TargetSpot's online audio advertising platform maximizes the advertising value for our partners while providing highly targeted ads and strong metrics to our advertisers."

These latest additions to TargetSpot's booming roster come on the heels of the company's recent product launch, TargetSpot Analytics. Launched in September, TargetSpot Analytics is a proprietary ad response tracking and reporting system that measures the effectiveness of online radio ads by tracking the listeners' direct response to the ad -- not just during, but also after an online radio ad is delivered.

"TargetSpot understands what marketers are looking for in online audio advertising and their strategy is effective and easily implemented," stated Tom Jackson, Manager of Interactive Media for Lincoln Financial.

TargetSpot's online advertising network includes over 75 radio groups and pure-play online music providers, with thousands of music, talk/news and sports channels. TargetSpot's roster of top-tier advertisers includes both traditional broadcast and online digital advertisers.

About TargetSpot:

TargetSpot (www.targetspot.com) is the nation's largest online audio advertising network with more than 15.3 million unique listeners per month. TargetSpot connects top brands, interactive, network and spot radio advertisers as well as small and local businesses to the online listener. Advertisers can use TargetSpot's self-service advertising platform or work with TargetSpot's full-service account management team to create, target (by geography, listening preferences and/or demographics) and deliver high-impact audio and pre-roll video advertising across thousands of online audio properties. TargetSpot has more than 75 distribution partners, including CBS RADIO, AOL Radio, Entercom, Live 365, Yahoo! LAUNCHcast and Nassau Broadcasting. The company is based in New York City and the company's investors include Bain Capital Ventures, Union Square Ventures and CBS RADIO.

Contact Information

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