Wal-Mart and a number of other advertisers are asking for money to test their proposed online auction site, sort of a TVbay, to buy and sell TV ad time, according to Ad Age. Ebay has a marketplace model for the site.
The effort is being motorwomaned by Julie Roehm of Wal-Mart, who joined the company in February from DaimlerChrysler, where she was also a big proponent of doing TV business online. Roehm has been pushing for a new approach to TV ad buying for at least the past couple of years.
The initial plan, unveiled at an Association of National Advertisers conference in Florida Tuesday, would be to raise $50 million to test the system.
Ebay presented its electronic TV marketplace to the ANA's Television Advertising Committee earlier in the year, which formed an informal task force to explore whether the industry can and should create a Nasdaq-like exchange. The concept was first proposed by Roehm.--Joe Mandese contributed to this report.