TargetSpot purchased online streaming ad rep firm Ronning Lipset Radio — a move that will form the largest audio advertising network — and streamline the buying of online radio spots, the companies say (via MediaBuyerPlanner).
TargetSpot is an online system for creating, buying and placing ads in streaming media. The combined network will consist of over 50 partnerships with over 1000 stations, reaching over six million listeners weekly, claim both companies.
The deal, for undisclosed terms, is a sign of the growing popularity of online radio. Arbitron and Edison Research estimate that online radio pulls 50 million listeners monthly.
Earlier this year, TargetSpot was picked to provide a marketplace for advertisers of the merged CBS Radio-AOL internet radio network.
TargetSpot plans to enter the mobile ad market by year's end.
