This week AdAuction will use its real-time, dynamically-priced media auctions to go beyond the banner, selling print advertising in its first-ever auction of traditional media. The San Francisco-based company will auction space in at least five publications including the New York-based performing arts
"This is the first step, with broadcast and outdoor to follow," said Neil Cohen, vice president, business affairs for AdAuction. Cohen felt the move wasn't really much of a leap for AdAuction. "We have a database approaching 3000 media buyers, growing at a rate of 10 to 15 percent a month," he said. "They buy all kinds of media."
Though some publishers may be hesitant, Cohen said, "Money talks. If you can increase their yield from 10 cents on the dollar to 30 percent, that's a compelling proposition."
"This could be a desirable way of selling space after close and still maintaining a good rate for the space," said Shira Kalish, publisher of Stagebill. "[Excess] inventory is usually caused by last minute editorial changes, and AdAuction is set up for quick response."
AdAuction tapped Andrew McColough to lead a new New York office as general manager of print media sales. Steven Pechman, formerly general sales manager for Fox Sports South, signed on as general manager of broadcast media sales. He will head the company's new Atlanta office.--Susan Kuchinskas