Google has signed a multi-year agreement with Clear Channel which enables the search engine giant to sell a guaranteed portion of 30 second advertising inventory available on more that 675 of Clear Channel’s AM/FM stations. across the US.
The agreement will see Google Audio Ads advertisers receive national distribution, enabling them to reach specific audiences at specific times in targeted geographies.
Earlier in the week, Google acquired Doubleclick, an ad-serving company, for £3.1 billion, saying that the deal would “combine DoubleClick’s expertise in ad management technology for media buyers and sellers with Google’s leading advertising platform and publisher monetisation services” (see Google Acquires Doubleclick For £3.1 Billion)
John Hogan, chief executive officer of Clear Channel Radio, said: “This is a true win-win. Clear Channel Radio gets access to an entirely new group of advertisers within a new and complementary sales channel, and Google adds another option for its existing customers.
“Google has proven its ability to gain premiums for advertising inventory and that fits perfectly into our broader strategy of building value for advertisers while increasing our overall revenue yield. We’re committed to working with the best-in-class and Google has a real economic incentive to produce meaningfully higher CPMs.”
Eric Schmidt, chief executive officer of Google, said: “Clear Channel is the market leader in delivering radio value to consumers and advertisers and has built an innovative platform to manage its on-air ad inventory. We look forward to working with Clear Channel Radio by providing a unique set of advertisers and a system that will increase the effectiveness and measurability of connecting advertisers with radio listeners.”
The deal will see Clear Channel Radio’s national and local sales forces continue to focus on the company’s most lucrative advertiser relationships and on advertisers seeking specialist ad packages and concepts.
Google, meanwhile, will focus mainly on advertisers who at the moment run ads online but not on radio.
This new deal complements an existing online advertising partnership in which Google provides text ads to Clear Channel’s radio-station web sites through the company’s Online Music & Radio Unit.
Last month, the IAB revealed that Google accounted for 43% of the £2 billion spent by marketers on online advertising last year in the UK (see Google Increases Grip On UK Online Adspend).
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