Seattle-based Media Passage, a newspaper advertising transaction processor, teamed up with Chicago-based SRDS to launch a new, Internet-based planning, placement and payment service for the magazine industry.
The new service will enable print media planners to plan and place multi-title magazine buys for almost 10,000 consumer and trade magazine titles. The service integrates Media Passage’s information and functionality with SRDS’ media planning and buying data.
The online system allows print media buyers to electronically select titles based on SRDS information, price the advertising based on published or negotiated rates, schedule the placements and traffic the orders and the artwork. The same ordering, billing and payment systems Media Passage uses in its newspaper media operation will also be in place for the new magazine service, including tear page clearance, consolidated invoicing and accounts payable, and payment of media.
“By integrating the SRDS media information database with our advertising transaction engine, we’ve developed an exciting set of media operations tools to replace mundane, inefficient processes,” said Gilbert Scherer, Media Passage CEO.
“By placing media information of magazine sellers immediately adjacent to the actual buying process, we feel that we can deliver greater value to publishers. Initially we will offer this service to advertising buyers through the Media Passage system; but we will soon have the transaction capability appended to our new online magazine directory,” said Chris Lehman, SRDS CEO.
McCann-Erickson will be the charter customer for the new magazine service.
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