Revenue-generating Event Auctions Hit South America and U.S. Hispanic Print Landscape
In a first for the Latin American and Spanish-language newspaper market, CityXpress and Colombia's El Tiempo have announced the rollout of “La Gran Subasta El Tiempo, (El Tiempo's Big Auction).” The 10-day auction pairs local retailers with the Bogota daily to sell merchandise through the auction in exchange for advertising credits, should their items sell.
The deal is CityXpress' first foray into a Latin American market, and surely not their last. The company estimates that there are upwards of four hundred Spanish-language dailies in the Latin America, the U.S. and Spain, that are good candidates for their program. Since its inception in 2002, CityXpress has generated in excess of $140 million revenue for newspapers in event auctions.
The model purports to attract new advertisers to the newspapers, bolster store traffic for vendors, and offer good bargains for consumers: an ostensibly win-win-win situation.
“La Gran Subasta El Tiempo” is scheduled to run July 23rd-August 2nd.
A number of companies is offering newspapers technologies to increase their online advertising and e-commerce revenues. The opportunity is particularly large in Spanish-language media due to the fact that many publications in that space have not yet totally migrated their content to the web. Harvest Info, the Mason, OH, based company publishers' software solutions company has also introduced its services to the Hispanic market for the first time. It's “Dealstorm” outlet is a print advertising portal that allows consumers to search across various ads to find the best local deals presented as an “organized result set.”
Harvest info also launched “Click Lizard,” a keyword-based, pay-per-click advertising mechanism designed to boost ad revenues.
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