SOURCE: Web2 Corp

March 17, 2008 09:30 ET

BroadcastBid.com in Forefront of New Market Shift in Certificate Fulfillment, Non-Traditional Revenue

iDemption.com Instant Online Fulfillment Model Launches Nationally; Citadel Communications Tests Own System in Limited Markets

ORLANDO, FL--(Marketwire - March 17, 2008) - As Internet radio and rich media get an ever-increasing market share, radio stations are looking for increasingly innovative ways to continue to grow advertising revenue. As a result, many established institutions in the radio business are also seeing changes. Half-off programs, which require specialized printing equipment and complicated third-party logistics systems, are being superseded by more cost effective and nimble electronic fulfillment systems.

"BroadcastBid.com pioneered the electronic instant fulfillment concept in early 2007," said Dan Bordui, President of BroadcastBid.com. "And we're pleased to see the business model catching on in other companies such as Citadel Communications, which is testing a preliminary version of their product in 5 markets right now. BroadcastBid.com's instant online fulfillment program iDemption.com is up and running nationally, and the demand for this product has been so high that we're working overtime at BroadcastBid.com to keep up."

iDemption.com creates new market opportunities for advertisers with its instant internet fulfillment program. Any radio station can sell half-off gift certificates through their website; iDemption handles the entire sales and fulfillment process online, e-mailing the customer a printable gift certificate. The merchant who honors the gift certificate calls the toll-free iDemption.com fulfillment hotline or scans the certificate with a supported bar code scanner and verifies that the secure certificate number is valid and hasn't been used before. The dramatically reduced costs in time and physical media equate to a savings of literally dollars per certificate sold, reducing overhead costs of a half-off program 30% - 70%, and representing millions of dollars of savings, industry-wide.

Bordui continued, "iDemption.com is a product that is available to any radio station, unlike proprietary technologies developed internally by broadcasting conglomerates. Having a station group like Citadel Communications, the third largest in the industry, develop their own electronic fulfillment program shows radio stations in competing markets and across the nation the vital importance of upgrading their half-off program to a lower cost, more customer friendly system like iDemption.com.

"BroadcastBid.com has over 5 years' experience at the forefront of NTR for the radio industry, and we have recently added our 300th partner station to the BroadcastBid.com auction network. We continue to invest considerable effort in developing new properties that are out where the industry needs to move in order to thrive in increasingly competitive media marketplaces. We're developing new properties constantly, and in addition to online auctions and half-off fulfillment programs, we're debuting a new program called RadioTix, which will dramatically increase the profitability of station-sponsored events in the same manner that iDemption makes a half-off program a much bigger money maker for stations of all sizes."

For more information on BroadcastBid.com or to see BroadcastBid.com's Safe Harbor Act Disclaimer Notice, go to www.BroadcastBid.com.

Contact Information

  • Contact
    Trevor Longino
    Communications Director, BroadcastBid.com
    Office: 407.540.0452
    Direct: 321.256.2939