Ad Auction Fails to Deliver for Indianapolis

Another example of a media auction that ran into trouble:

 From the Indianapolis Star. Full story here

Super Bowl ad auction fails to attract bidders

 A novel attempt to auction prime advertising space on Downtown
Indianapolis buildings for the Super Bowl failed to attract a single
bid.

The auction, which closed Friday night, included about 50
Downtown buildings, all willing to be wrapped in Super Bowl-related
advertising for a fee. Plans called for bids to reach as high $100,000
for the right to hang banners.

But no one bit — at least not until the auction closed.

One
media group has placed a hold on 11 buildings, said Chris Price, a
partner with Mattison Corp. The company orchestrated the website, www.biggamewraps.com, that hosted the auction. Until the contract is final, he declined to identify the company.

The idea was that advertisers themselves would bid as well as media companies.

"It
didn’t work out that way," Price said. "Maybe the auction itself was a
mistake, maybe having a set price might have been the way to go."

While
Price said that to the best of his knowledge other cities haven’t
turned to auctions for advertising, wrapping buildings — ala the artist
Christo — has worked.

The 11 buildings that have a sale pending
are located either in the Super Bowl Village area or close to Monument
Circle. Those include the CSX and PNC Building as well, at 31 E. Georgia
St. and 115 W. Washington St., as well as space at the Harness Factory,
30 E. Georgia St.

There’s still time in the next few weeks for
more advertisers to secure space on buildings. Price said his website
will continue marketing the space for any interested advertiser.

At least 60 percent of each banner must promote the Super Bowl or the National Football League, he said.

"It adds to the spectacle," Price said. "It’s almost like a giant decoration for the big event."

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