The Newspaper Industry Launches Print Ad Trading Exchange, Bid On Print

gavel on white laptop, selective focus on metal part
SHARE
THIS



The newspaper industry has launched an industry-first private exchange to buy print advertising.

To be known as Bid on Print, the exchange begins trading with more than 140 newspaper titles available to media buyers across Australia with advertising opportunities that can be booked online for the first time.

The site has been created by The Newspaper Works and Sydney-based company Publisher’s Internationalé.

The Newspaper Works CEO Mark Hollands said Bid on Print was designed specifically to sell newspaper print inventory.

“We are creating commercial efficiencies for both media agencies and publishers,” he said. “Media agencies can bid and book a print advertisement with a click of the mouse.”

This efficiency also gave publisher sales teams the opportunity to focus more time on premium solutions for advertisers.

“Bid on Print gives sales teams the opportunity to focus on higher-value, strategic commercial engagements. Commercial relationships between publishers and their advertising partners are becoming increasingly complex with the integration of print and digital campaigns, combined with new services such as events, data and content marketing,” Hollands said.

Bid on Print has already transacted more than $350,000 during publisher trials with agencies.

Bid on Print is not a programmatic or real-time bidding exchange. Instead, a publisher selects inventory, applies a floor price and then sets a timeframe in which the ad must be bought. Buyers then bid with the highest offer winning, or they can simply click a “Buy Now” button.

Hollands said: “We have made the system as simple as possible to appeal to buyers and planners, and make the transaction quick and simple.”

Publisher’s Internationalé CEO Charlton D’Silva said trials over the last few months had proven successful.

“Feedback from media agencies suggests we have reduced to just a few minutes what took them hours to do previously, especially for campaign-scale purchases. Newspaper publishers see the benefit of helping to create efficiencies for agencies and have keenly supported the initiative,” he said.

Mediabrands chief investment officer Victor Corones said: ”I’m a big fan of encouraging industries to find ways to improve and streamline the buying process for agencies and their clients.  Bid on Print is a great initiative.”

TMS is one of the agencies piloting Bid on Print. TMS retail engagement director David Lodge said: “TMS is proud to be the pilot agency on Bid On Print and to have worked with Publisher’s Internationale in its development. Bid On Print brings ‘old school’ buying nous together with a ‘new world’ open market mentality. If this is embraced by the industry as a whole, we will see a new era in efficient and transparent transactions in print and potentially in other channels.”

Hollands said that while The Newspaper Works had been an integral partner in establishing Bid on Print, it was up to each individual publisher to participate.

“We are simply providing another commercial option for publishers and media agencies to work together,” he said. “There is no obligation on any member publisher to participate in Bid on Print. That’s a commercial decision that is made by each publisher individually.”

Publishers are able to see only their own inventory lists and have no visibility of their competitors’ offering.

Agencies and publishers can create their own hierarchy of transparency and transacting limits for staff within their organisations.

Each publisher has an individual commercial relationship with Publisher’s Internationalé, and there will be no cost impost on media agencies, which will be provided access on application.

Hollands said: “The fact that publishers can state and enforce a minimum price means there is no question of pricing being forced below a level the publishers are prepared to accept. That can happen with programmatic trading but not on this exchange.”

Bid on Print will feature emma readership data to provide important demographic information for every purchase, plus CRM calculations.

Bid on Print chief technology officer Ganesh Prasad said: “This new exchange offers advantages to all players because it creates a liquid market that offers transparent deals.

“By making the purchase of newspaper advertising faster and simpler, we hope Bid on Print will grow revenues for all publishers as well as reduce cost of purchase for agencies. With suitable yield management techniques, publishers can use the platform to make their aggregate yield targets achievable.”

Please login with linkedin to comment

Latest News

Case Study: How Content Helped Tribal Marketing Come To Life Amongst Rev-Heads.
  • Opinion

Case Study: How Content Helped Tribal Marketing Come To Life Amongst Rev-Heads.

In this guest post, CEO of content marketing agency Edge, Fergus Stoddart (pictured below), says brands would do well to play on their customer’s loyal tribalism… Normally over Christmas, any downtime is spent asleep on the sofa, mildly lubricated with a belly full. This year, with the Ashes in the background, I managed to stay awake […]

Opinion

by B&T Magazine

B&T Magazine
Red Bull Holden Racing Team Unveils 2018 Cars On Sydney Harbour
  • Marketing

Red Bull Holden Racing Team Unveils 2018 Cars On Sydney Harbour

Red Bull Holden Racing team took the covers off its 2018 Holden Commodore Supercar today. Floating on a barge in Farm Cove, the harbour provided a stunning backdrop for the reveal. Teammates Jamie Whincup and Shane van Gisbergen have won the past two championships for the squad. Whincup, now the greatest of all time with seven Supercar’s titles, […]

Victorian Government Launches VR Bushfire Experience Via The Fuel Agency
  • Advertising
  • Campaigns
  • Technology

Victorian Government Launches VR Bushfire Experience Via The Fuel Agency

As part of its summer fire campaign, the Victorian government has launched a virtual reality (VR) bushfire experience and content series via The Fuel Agency. The VR experience places the user in the midst of a large bushfire, and is designed to encourage people to leave early on high-risk days before it’s too late. The […]

Local Ad Tech Company VeNA Partners With RugbyPass
  • Advertising
  • Media
  • Technology

Local Ad Tech Company VeNA Partners With RugbyPass

ad tech company VeNA has signed an exclusive reseller partnership covering Australia and New Zealand with digital rugby network RugbyPass. Across Asia and parts of Europe, RugbyPass is the exclusive digital rights holder and over-the-top broadcaster for live rugby, including the Super Rugby, the Rugby Championship and autumn internationals, the Six Nations, the Aviva Premiership, […]

SpotX Appoints Gavin Buxton As Asia MD
  • Advertising

SpotX Appoints Gavin Buxton As Asia MD

Video advertising platform SpotX has announced it has appointed Gavin Buxton as managing director of Asia to lead the company’s expansion in the region. Buxton has over 17 years’ global experience in the digital advertising space, having worked in leadership roles at tech and publishing companies, including Microsoft, Turner Broadcasting, and LinkedIn, with the last […]

Big Mobile Doubles Down On Ad Tech & Rebrands
  • Advertising
  • Technology

Big Mobile Doubles Down On Ad Tech & Rebrands

B&T Awards 2017 finalist Big Mobile has unveiled a fresh look to reflect its new ad tech credentials. The company successfully pivoted its business from ad network to mobile ad tech vendor when it announced a joint venture (JV) with Widespace in October last year. As a result of the business changes, Big Mobile wanted […]

March One Appoints New Senior Account Manager
  • Advertising

March One Appoints New Senior Account Manager

Independent ad agency March One has appointed a fresh face to the team, with Melanie Tozer to reinforce its mission to put humans first as a senior account manager. Tozer (pictured above), an up-and-coming talent from New Zealand, will align her extensive experience in FMCG marketing with March One, having worked on accounts for Bunnings […]