Podbridge Launches Podcast Ad Network Utilizing Sophisticated New Audience Measurement and Ad Placement Technologies
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MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Feb. 16, 2006--
Breakthrough Technologies Precisely Measure Audience Demographics and Usage, Not Just Downloads; Major Media Companies to Use New Service
Podbridge today unveiled a new ad network aimed at turning the fast-growing podcasting phenomenon into a viable and profitable business. The new service, based on sophisticated ad-serving technologies, includes the unique ability to track the number of listens, place ads by demographic and location, rotate multiple ads, and manage campaign budgets.
Funded by top tier venture capital firms Mayfield Fund and Worldview Technology Partners, Podbridge is currently building a network of major media companies whose podcasts will utilize its technology. Podbridge has already secured partnerships with content providers such as BBC, Clear Channel radio stations KNEW and KQKE, Military.com, and Sports Byline USA.
"Podbridge is at the intersection of two undeniable, emerging trends: the growth of online advertising and the rising popularity of podcasts," said Yogen Dalal, partner at Mayfield Fund and a Podbridge board member. "Podbridge is positioning itself as an early player in these promising markets, and has developed a highly valuable and differentiated service. The company is poised to take off, right along with the podcasting and online advertising industries."
Podbridge also announced Ronning Lipset Radio as its exclusive third-party advertising representative, responsible for selling audio spots into the Podbridge network. RL Radio, which also consulted with Podbridge on services that would be relevant to advertisers, has established itself as the leading ad rep firm for the online radio industry and works with many of the nation's top advertisers and media buyers.
"Advertisers have become increasingly interested in podcasting, but until now there hasn't been a viable solution for them," said Andy Lipset, co-founder of Ronning Lipset Radio. "With Podbridge's pioneering technology, our clients will be given the tools and information necessary to make strategic media-buying decisions and be able to analyze the results. We are honored to be Podbridge's exclusive third-party ad rep, and to help advance the business of podcasting."
"For podcasting to become a mainstream media, it needs a business model to encourage content providers. We aim to help our content partners generate revenue by providing the insight and accountability needed to attract advertisers," said Murgesh Navar, Podbridge's founder and chief executive officer.
In addition to measuring podcast listens, Podbridge enables advertisers to target by demographic and location, rotate through multiple ads in a campaign, and set boundaries and limits to keep budgets under control.
Growth in podcasting is skyrocketing. According to Forrester Research, podcasting will see significant growth by 2010, reaching 12.3 million households, as portable player adoption climbs and broadband reaches 62 percent of households. Already, 42 million iPods have been sold and 29% of iPod users have downloaded podcasts, according to the Pew Internet and American Life Project.
Sports Byline USA produces over 100 hours of original sports programming each week, reaching their over 2 million weekly listeners through nearly 200 terrestrial broadcast radio stations, Sirius Satellite Radio and the American Forces Network. "Until now, our listeners had no option if they missed a show on the broadcast schedule," said Darren K. Peck, Sports Byline USA President. "We have been podcasting all of our shows with Podbridge since October of 2005. We are particularly excited about Podbridge helping us generate revenues from our podcasts. Now our listeners can enjoy the programming whenever they want. We are thrilled with their enthusiastic response."
Advertisers are looking to online advertising to reach a customer base increasingly turning to the Internet and web downloads for entertainment and information. According to Parks Associates, Internet advertising is expected to account for 10 percent of the overall U.S. market by 2010, a twofold increase over last year. In five years, revenues from online advertising will reach $23.5 billion out of the estimated $235 billion companies are expected to spend.
About Podbridge
Founded in 2005, Podbridge provides a podcast audience measurement and advertising network service. The company is focused on helping media companies extend their profitable content business into podcasting. The founding team has filed four patents for its technology -- accurately measuring podcast audiences and the industry's most sophisticated podcast ad management system. The company's service has been in Beta testing with Sports Byline USA since October of 2005. Blue-chip venture capital firms Mayfield Fund and Worldview Technologies have provided Series A funding. Located in Mt. View, CA, more information can be found at podbridge.com |
