Cox Media Group’s Radio Businesses to Join TargetSpot’s Internet Radio Advertising Network
NEW YORK, April 6, 2010 – TargetSpot Inc., the nation’s largest Internet and mobile radio advertising network, today announced its partnership with Cox Media Group (CMG), a subsidiary of Atlanta-based Cox Enterprises. TargetSpot will deliver advertisements into CMG’s online radio streams; offering enhanced targeting and analytic capabilities to advertisers. CMG’s 82 Web sites and 86 radio stations, covering 19 markets across the United States, will be integrated into TargetSpot’s advertising network.
“Partnering with TargetSpot will help CMG generate more revenue from advertisers who seek better accountability and enhanced services,” said Jeffrey Ulrich, CMG’s Senior Director, Digital Sales Strategy & Training. “Advertisers will be able to buy our inventory through the TargetSpot network, utilizing its technology to drill down and reach targeted and highly-engaged audiences.”
Internet radio advertising remained a shining light for the radio industry in 2009 growing both in number of listeners and dollars spent on advertising. Arbitron and Edison Research reported in April 2009 that 42 million Americans, 12 and older, tune in to Internet radio each week, up from 33 million in 2008. According to ZenithOptmedia, advertising revenue on Internet radio was up 28 percent in 2009 and estimates that advertisers will spend $394 million on Internet radio by 2011.
TargetSpot’s Internet radio advertising network will help CMG further monetize its digital properties by providing leading advertising agencies and brands that utilize TargetSpot with access to CMG’s substantial radio audience. Many of the CMG’s radio stations are located in growing metropolitan areas in the Sun Belt region of the country, including Atlanta, Birmingham, Houston, Jacksonville, Miami, Orlando, San Antonio and Tampa.
“CMG’S radio network reaches a great audience in some of the top revenue generating markets in the United States,” said Eyal Goldwerger, CEO of TargetSpot. “TargetSpot advertisers – brands and media buyers – will be able to reach an engaged consumer base through CMG’s large radio network that already has returned some outstanding results for advertisers.”
TargetSpot’s Internet advertising network now includes 76 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.
TargetSpot (www.targetspot.com) is the nation’s largest Internet and mobile radio advertising network reaching nearly 30 million unique listeners monthly across thousands of Internet radio stations including MySpace Music, CBS Radio, AOL Radio, Yahoo! LAUNCHcast, Cox Media Group, Live 365 and more. TargetSpot connects advertisers of all sizes with the fast growing Internet and mobile radio consumer audience through high-impact, targeted and measurable audio, display and video ads. In addition to having a direct sales force for agencies and large-scale clients, TargetSpot provides smaller advertisers with a self service platform. TargetSpot is based in New York City and its investors include Union Square Ventures. Bain Capital Ventures and CBS RADIO.
About Cox Media Group
Cox Media Group, Inc., a subsidiary of Atlanta-based Cox Enterprises, is an integrated broadcasting, publishing and digital media company that includes the national advertising rep firms of Cox Reps. With revenues exceeding $1.5 billion, the company operations include 15 broadcast television stations and one local cable channel, 86 radio stations, four metro newspapers and more than a dozen non-daily publications, and more than 100 digital services. Additionally, CMG owns and operates Valpak, one of the leading direct marketing companies in North America.