Moving to extend its
online ad-auction concept to the off-line world, San Francisco-based Adauction.com has scheduled its first ever
auction of print media for April 23.
The auction will feature an array of national consumer magazines and will
mark the company’s transition from providing Web advertising to a full
offering of traditional and online media, including print, broadcast and
outdoor. The announcement follows the successful completion of a beta test in
which the company sold an insertion for Stagebill, a national magazine
targeted at an upscale demographic.
“We have always believed that the same principals that have made our auctions
a tremendous success for online media will work equally well for traditional
advertising,” said Neil Cohen, Adauction.com’s senior vice president of
business affairs. “The Internet, through the standard browser, allows us to
take an inefficient sales process and create an instant marketplace that
makes buying and selling simple.”
The company also is planning an auction for broadcast media. Currently, there
is no central exchange that specializes in buying and selling online, print
and broadcast ad inventory on the Internet, Adauction said. Leveraging its
base of nearly 3,000 media buyers and publishers, the company intends to
offer “one stop shopping” enabling advertisers to integrate traditional and
new media buys.
Adauction.com also offers
consolidated reporting and billing as part of its service.
Adauction.com recently formed separate print and broadcast media divisions,
hiring industry veterans to head each unit.
Andrew McColough, formerly with
Time Inc. magazines, manages the Print Media division out of New York; Steven Pechman,
previously with FOX Sports South, Turner Broadcasting and Cox Communications,
heads the company’s Broadcast Media division and supervises the new Atlanta