TargetSpot, an Internet radio advertising network, announced Wednesday that it has acquired Ronning Lipset Radio, an advertising representation firm, to create the largest online radio advertising network. Click here for the NY Times Oct. 15 story. “There are really only two businesses out there offering this type of service, and now we’ve come together and established ourselves as the leader in the space, unquestionably,” said Doug Perlson, chief executive of TargetSpot.
TargetSpot enables advertisers to log on to its Web site to buy audio and visual ad space on the 600 online radio sites in its network. It offers them granular ad targeting. Many of its advertisers have been small, local companies. Ronning Lipset has a large ad sales force and relationships with big brands. It has been selling ads for Internet radio companies like Yahoo, Live365, AOL and CBS. Internet radio advertising is a young industry. The first Internet radio stations started in the late 1990s, but few computers could stream music. It has grown increasingly popular, with 54 million listeners a day, according to Bridge Ratings, a radio research firm.
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