Spot Runner, an agency that lets local businesses purchase cable and broadcast TV ads online, has received investment and endorsement from WPP, CBS Corporation, Interpublic Group and others.
As an ad buyer, WPP handles about $50 billion in client advertising funds. WPP plans to use Spot Runner’s service to help clients target ads at the local level across multiple media channels, while keeping a consistent brand image. Interpublic is also interested in Spot Runner’s targeting capabilities and wants to develop its direct response and hyper-targeted communications abilities. CBS wants to use Spot Runner to help sell its TV, radio and internet ad properties, and to add a new ad channel specifically for local advertisers.
“CBS, WPP and Interpublic are amongst the most forward-thinking leaders in the media and advertising industries,” said Spot Runner CEO Nick Grouf in a statement. “Their investment in Spot Runner is a strong endorsement of our mission to deliver cutting-edge solutions for our mutual clients and of the importance of reaching customers at the local level.”
Financial specifics of the deal have not been released. Spot Runner will use the new funds to bolster its TV ad buying platform and expand into other markets like IPTV, online video, and video-on-demand.