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Bid4Spots Hits $1 Million Mark

Bid4Spots, an online marketplace for unsold radio ad inventory, has reached the $1 million milestone, awarding auction winnings with an aggregate value in seven figures among its participating radio stations, the company announced.

 

Launched in September 2005, Bid4Spots provides a reverse auction model for remnant radio, where participants bid ad rates down and the lowest bidder wins. Today, more than 2,000 radio stations nationwide have signed up to participate in Bid4Spots auctions, representing nearly all of the top 300 U.S. markets.

More than 350 advertisers and an additional 110 ad agencies have enrolled in Bid4Spots to buy last-minute airtime from radio stations - helping Bid4Spots move about $100,000 per week in remnant sales.