Rocket

Mediapost updates us on the Rocketboom ad auction. I like Henry Copeland‘s quotes:

BlogAds founder Henry Copeland, whose firm bid on the ad space but dropped out when the bidding topped $12,000, said the inventory’s value might be worth as much as $50,000. “Being the first advertiser on a cult show like this, with the ads actually being produced with Amanda, assuming that is the case, is worth a lot more than $15,000,” he said, referring to Rocketboom star Amanda Congdon. “An anal-retentive media buyer will get focused on the difficulty of verifying the viewership numbers, how many of the downloads are actually watched–and miss the novelty value and cult status of the show.”

Copeland said it was not surprising that the bidding had not yet reached the higher valuations, and that the top bidders are not big-name brands. “A decision to spend takes way too long to make it through the bowels of the decision-making process,” he said. “And a lot of buyers are going to have trouble with Rocketboom having creative control over the ads.”

Baron also said that Rocketboom used eBay because conventional ad sellers moved too slowly. “We tried to go with ad sellers, but it was taking too long and our deadlines were never met,” he said. “We kept hearing that it was taking too much time for the advertisers and everyone else to understand how it could work.”

  • Paw

    Copeland, like most Internet con men, is pulling his value figures straight out of where the sun don’t shine. The fact they pulled out of the auction at 12K says a lot more about what he thinks the true value of that space is than his gratuitous statement.

    The reason “anal-retentive” media buyers get hung up on verification and viewership is because there’s no true industry standard for measuring that value. These people retain their business through results, not novelty value and cult status. And by the way, there’s no quicker way to lose a buying assignment than to have a Rocketboom create an ad that the customer doesn’t like.

    The auction process in this case attempts to work around typical due diligence by creating buzz around something that may have no real advertising value at all.

  • http://www.bloodandtreasure.com Noel Guinane

    They must be thrilled – 89 bids so far and $15k in the bag – and I wish them well, though this part of their offer would turn me off as an advertiser:

    The actual advertisements (the content) will be created and owned solely by Rocketboom and exist as a part of our regular Rocketboom show under a creative commons, non-commercial, share-alike, license.

    I think it’s a great idea to offer to design the ads themselves because it allows them to ensure the ads fit the show and is of course also a source of additional revenue, but considering they have no experience creating ads for other businesses, it might be going a little too far to claim ownership of the ads. It suggests a lack of commercial instinct. Still, best of luck!