Reverse auction radio comes to UK

A company that auctions last-minute radio airtime by encouraging radio groups to attract advertisers by offering the lowest price is launching in the UK. Bid4Spots.com will launch on June 28 and hold weekly auctions.

The US-based company offers agencies and advertisers access to radio at lower advertising rates by encouraging broadcasters to offload airtime at the last-minute. Advertisers go to the website to indicate their intention to buy airtime, giving details of their requirements and an alert is then set out to radio groups. The auctions will take place between 10am and midday every Thursday.

Bid4Spots chief executive Dave Newmark says that there is a “huge need” for a solution for buying and selling late airtime.

The UK arm will be run by Paul Mitchard, who was previously head of operations at Independent Radio News.

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