Online radio rep firm TargetSpot is growing, and it expects revenues will be up in 2009, according to the co-presidents of the company.

Since TargetSpot merged with Ronning Lipset Radio last October, the number of listeners to its network of more than 1000 internet radio stations has seen double-digit growth. In December, TargetSpot pulled 15.3 million unique listeners - double that of Katz Online Network, its nearest competitor - and sales grew as well, with upfront billings up 72% compared to last year, MediaBuyerPlanner writes

Growth can be attributed in part to the increase of availability of internet radio on mobile phones. Additionally, before the merger, Ronning Lipset's sales were confined purely to network radio buys. Now, advertisers can make national, spot, local and hyper-local buys thanks to TargetSpot's geo-targeted buying system.

Google, which bailed on its broadcast radio ad endeavor last week, said that it will focus its audio efforts on streaming radio, and TargetSpot welcomes the business. Doug Perlson, CEO of TargetSpot, told paidContent that having Google "introduce their million-plus advertisers to […] the highly targeted streaming audio ad market further validates its value. Google will have a positive impact to the entire internet radio community. We welcome their entry into the space."

Last month consulting outfit Deloitte said that this year may be a defining one in the online radio industry. Deloitte predicts that internet radio may just be the savior the radio medium needs, as technology releases internet radio from its bounds on the computer, allowing it to become much more portable.