Monday, August 10, 2009
Bid4Spots Claims Revenue Gains
Encino-based Bid4Spots, which operates a number of online reverse auction marketplaces for radio and cable television advertising, claims today that the firm has been seeing a huge amount of growth this year. The firm reported this morning that it has more than doubled its revenues this year, despite the economy. Actual financials and revenue were not disclosed. Bid4Spots said that radio revenue has "increased dramatically" for the firm, saying that the growth came from both existing advertising spending more and new advertisers coming on board. The company also said that the firm's new local cable TV advertising marketplace--launched in June--also added to the results, with that market accounting for 20 percent of its business. Bid4Spots is headed by Dave Newmark, who launched the firm in 2005.