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

The X Factor returns with highest launch audience since 2011

The X Factor returns with highest launch audience since 2011

The 11th UK series of 'The X Factor' launched to a peak audience of 10.6 million, the highest for three years, according to unofficial overnight figures.

Share
Former FT chief executive Rona Fairhead hired as BBC Trust chairman

Former FT chief executive Rona Fairhead hired as BBC Trust chairman

Rona Fairhead, the former chairman and chief executive of the Financial Times Group, is set to become the next BBC Trust chairman.

Share
Havas UK revenue climbs 22% in Q2

Havas UK revenue climbs 22% in Q2

Havas has reported income before tax of €94 million (£74.2 million) across the first half of the year, up 5.6 per cent year on year, as UK revenues surged almost 20 per cent in the same period.

Share

Get news by email