London Evening Standard e-auction misses target with advertisers

More than £1.6m of premium advertising running in the London Evening Standard during the Olympics has failed to attract a single bid in the newspaper’s much-trumpeted e-auction.

London Evening Standard: e-auction proves disappointing
London Evening Standard: e-auction proves disappointing

The London Evening Standard’s e-auction kicked off this week with an overall reserve price of £3,538,350, which included a number of commercial packages for advertisers during the Olympics.

On offer were advertising slots including cover wraps, front and back page strips and page two and page three ad slots.

The Evening Standard has been widely applauded for introducing an e-auction, which has previously been used in outdoor media, to newspapers.

The paper believed it would be able to drive up commercial revenues by e-auctioning commercials packages, as opposed to the conventional way of trading through a media agency.

The first slot on offer to advertisers was the cover wrap on the opening day of the Olympics on July 27, which had a reserve price of £120,000.

The auction for the Olympic opening day ran for four hours and attracted no bids, according to a number of media agency sources.

But the e-auction is still open to possible bids.

Subsequent packages offers totalling £1,691,250 have failed to attract any bids, say media agency sources.

One media agency source said the reason for its failure to attract bid was because the reserve price was too high.

It is unclear what will now happen to the advertising inventory.

The e-auction has been run by MediaEquals, which specialises in online bidding.

The London Evening Standard declined to comment.


Follow John Reynolds on Twitter @johnreynolds10

Have your say...

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Media Week Jobs
Search for more media jobs

Latest

Six Nations 2016: Why it's never been easier to target rugby fans

Six Nations 2016: Why it's never been easier to target rugby fans

The success of the 2015 Rugby World Cup and the Six Nations coming to terrestrial commercial TV means it has never been a better time to target rugby fans, argues RadiumOne's Rupert Staines.

Share
UK Super Bowl fans on social media: Paddy Power and FA are most followed brands

UK Super Bowl fans on social media: Paddy Power and FA are most followed brands

Over half a million Twitter users in the UK now follow American football-related accounts. Starcount, the social media data analytics company, discovered what people, brands and other sports rank high among their interests.

Share
Campaign Viral Chart: Heinz Super Bowl ad in top spot

Campaign Viral Chart: Heinz Super Bowl ad in top spot

The Heinz ad featuring dogs dressed in hot dog costumes was the most-shared ad this week in a chart full of Super Bowl ads ahead of the big game on Sunday.

Share

Get news by email