[Los Angeles advertising firm Spot Runner Inc. said Tuesday that it had received $51 million in financing from Grupo Televisa and a slew of other international media companies, evidence that even global advertisers are interested in local ads.
In addition to the largest media company in the Spanish-speaking world, the new investors include luxury goods maker Groupe Arnault/LVMH, Legg Mason Capital Management and Daily Mail & General Trust, the British newspaper and radio company.
"It's now the time for us to think seriously about how to apply the Spot Runner model to markets such as Europe and Latin America," said Nick Grouf, chairman and chief executive of the 4-year-old company.
Spot Runner makes TV advertising available to small businesses through the Web.
The company can create a commercial for as little as $500 using pre-produced footage and personalizing it with the client's name, photo and contact information. Spot Runner's website enables companies to specify whom they want to reach and how much they want to spend, then Spot Runner buys airtime for them on the national broadcast feeds of local cable or broadcast channels. It generally costs less than $100 to buy spots on local cable.
Spot Runner CEO Grouf said the partnership with Grupo Televisa, which draws 70% of the TV audience in Mexico, would bring a new category of advertisers into the market. Spot Runner's relationship with luxury products maker Group Arnault/LVMH will help the company target its advertising and "put the right brands in front of the right customers with the right message," he said.]-LAT
Times are a changin
