AllAdvantage.com today unveils the ADvantage Network, an ad network representing desktop Internet services and free ISPs. ADvantage Network will be selling ads reaching a combined audience of more than 6 million active users. Freeinternet.com is one of the six companies in the network. Separately, free ISP Spinway cut 10 of its 30 salespeople. A spokeswoman said Spinway partner Yahoo! is now selling its banner ads. While the spokeswoman said there are no plans for others to sell Spinway ads, there is talk that Spinway will join AllAdvantage's new network.
U-Mogul.com opens the Web to movie investing
U-Mogul.com will launch soon as a movie venture funding site where online investors can invest in different funds of upcoming theatrical movies -- everything from action-adventure to horror and chick flicks. Universal Studios is a partner in the venture, according to industry executives. Toby Blue, VP-communications at U-Mogul.com, and a co-founder of the Santa Monica, Calif. based-business, said, "Unfortunately, I can't tell you anything about it yet." Industry executives said the site is already pitching advertising agencies to work on the business, and it's estimated that each of the movie funds could have an advertising budget of $15 million to $20 million.
Techies.com rolls out enhanced ad targeting
Technology job site Techies.com is offering advertisers the opportunity to target audiences on a local or regional basis through a new ad program. Advertisers and sponsors that so far have targeted their audiences on a national level by advertising on techies.com now can advertise on more narrowly focused sites such as newyork.techies.com and bayarea.techies.com.
Techies.com has struggled this year; in May it pulled its IPO, and in June it laid off 60 workers and arranged a $20 million infusion.
Sites can offer Olympics coverage with local ads
Newspaper affiliates of Zwire!, an online newspaper network, will provide coverage of the 2000 Olympic Games in Sydney, Australia, through a service provided by SportsTicker, an ESPN sports news and information service, and PowerAdz.com, an aggregator of online newspaper content. Zwire! affiliates can add their own local news to the Olympics section, offering targeted advertising opportunities for local advertisers. PowerAdz is signing national advertisers interested in targeting consumers in local markets.
Jupiter Communications projected online advertising revenue will hit $16.5 billion annually by 2005. A report released at the Jupiter Online Advertising Forum in New York said spending will increase 30% annually, up from $3.5 billion in 1999. . . . Living and dying: Furniture site Living.com filed for bankruptcy liquidation, laying off 275 employees. Leo Burnett USA, Chicago, which handled Living.com's offline and online advertising, said all its bills had been paid. Amazon.com was a big investor in Living.com.
Chat. . .
Reorg finally in the works? A reorganization anticipated at CMGI could include the roll-up (finally) of CMGI-owned AdForce into CMGI-controlled Engage, a move that's been speculated on for months. Such a move could give a financial boost to Engage, whose stock this year has fallen more than 90%. A CMGI restructuring is expected because CMGI's strategy of investing in many loosely related companies has diluted its image as a dominant force in the Internet space and because CMGI needs to get serious about profitability. The reorg could mean cutting the fat, getting rid of companies or investments that bring little to the table. One candidate: MyWay.com, which dropped its original business model of sister portal to CMGI-controlled AltaVista Co. after only seven months to become a b-to-b play (Ad Age, May 8). MyWay lost its president-CEO and cut way back on ad spending. An AdForce spokesman acknowledged the speculation, but said he didn't know if a roll-up was in the works. Lyn Chitow Oakes, president of Engage Media, a division of Engage, said she didn't know if a restructuring would include the roll-up of AdForce into Engage. CMGI executives could not be reached at deadline.
. . . Our business is in the toilet? Sign at Jupiter Online Ad Forum noted: "Bathroom sponsored by Unicast.'