Internet radio advertising just got a little more competitive. That’s because TargetSpot is acquiring Ronning Lipset Radio, and together the merged company will boast a network of more than 50 partnerships with more than 1,000 stations reaching more than six million listeners a week.
Those network partners include the top tier of Internet radio, from large terrestrial broadcasters like CBS Radio and Entercom to mammoth Internet pure-play properties like Yahoo, AOL and Live 365. The hottest independent stations such as Big R Radio, 181.fm and 1club.fm are also in the mix.
TargetSpot CEO Doug Perlson is betting the combination of his company’s technology with Ronning Lipset’s sales force will drive better solutions for advertisers and stronger monetization possibilities for Internet radio companies.
“Ronning Lipset Radio was the first company to recognize the untapped value and immense opportunities presented by Internet radio advertising,” Perlson said. “They have generated more revenue for the online radio industry than any other third-party rep firm and have accounted for close to 14 billion audio-player impressions sold since the company’s inception.”
An Internet Radio Explosion
Over the past five years, Internet radio has posted explosive growth on both the listener side and the advertiser side. According to Arbitron Edison’s Infinite Dial 2008 Study, more than 50 million people in the United States currently listen to Internet radio every month. That number is expected to double over the next several years. With this acquisition, TargetSpot intends to leverage that growth in new ways.
“The online radio audience is exploding, and our combined platform is now clearly unsurpassed in the industry,” said Andy Lipst, cofounder of Ronning Lipset. “Ronning Lipset and TargetSpot have been complimentary leaders and innovators in the space and combined are poised for explosive growth. We aim to be able to meet every advertiser’s needs and continue to be the leader…