Combined firm plans expansion into mobile audio ads by end of year.
Online radio ad platform TargetSpot has acquired rival Ronning Lipset Radio, creating a network of over a thousand stations on more than 50 radio groups and web properties. The combined company will have the largest reach of any online radio ad network, reaching in excess of six million users weekly, according to TargetSpot.
As a result of the deal, network partners will now include major broadcasters such as CBS Radio and Entercom, online properties such as those of Yahoo, AOL, and Live 365, and independent stations including Big R Radio, 181.fm and 1club.fm.
Ronning Lipset is the more seasoned firm, having been founded in 2003. It has relationships with CBS and AOL that extend back a number of years. TargetSpot meanwhile was founded early in 2007, but didn't open up to advertisers until last fall.
The combined company is well-positioned to branch out into mobile ads, according to CEO Doug Perlson. "We are big believers that audio advertising will prove to be the single most effective way to reach someone using a mobile connected device," he said in a statement, adding that the company will unveil mobile audio ad solutions by end of year.
Eric Ronning and Andy Lipset, Ronning Lipset co-founders, join TargetSpot as co-presidents of sales.
TargetSpot's platform offers advertisers ad creation, campaign creation, various targeting factors, and reporting. Advertisers can create customized audio, video, banner and text ads with an array of music beds, sound effects and visuals provided by TargetSpot. Clients can also upload creative directly, and ads can be targeted by demographic, location, or station.
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