Newspapers Create Ad Network To Compete
ADOTAS - Four major newspaper chains today announced the creation of quadrantOne, an online sales network that will allow advertisers to launch nationwide campaigns in one place. Advertisers will reach about 50 million unique visitors per month in 27 of the 30 top markets, the company says.
Investors include Tribune Co., Gannett Co., Hearst Corp. and The New York Times Co. quadrantOne clearly hopes to get a bigger slice of the online pie, currently being gobbled up by the likes of Google and Yahoo.
“For the first time, the media industry will be able to compete effectively for advertising dollars currently going to the national portals and others,” said Jack Williams, president of Gannett Digital Ventures in a release. “quadrantONE’s audience is of the highest quality. By networking our Web sites, we have delivered – in one stroke – the reach and scope desired by national advertisers.”
And the pie seems to be getting bigger and tastier by the minute: the U.S. online advertising market will reach $50.3 billion in revenue by 2011, more than doubling 2007’s earnings, according to Yankee Group’s forecast last month. The Internet accounts for about 20% of overall media consumption, but advertisers currently invest only 7.5% of their budget online.
“With the rapid expansion of online inventory, advertisers we talk with are seeking trusted alternatives,” said Steven Ainsley, publisher of The Boston Globe, owned by The New York Times Co. “Guaranteed placements within quality branded environments, coupled with the ease of a one-order, one-invoice approach to a national buy, makes for a very competitive proposition.”
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