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| Financial instruments and systems |
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| System and method for financial instrument modeling and valuation |
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| Online sales risk management system |
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| Intelligent television receiver and method of processing data therein |
| Therefore, it is a first object of the present invention to provide an intelligent television ... |
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| Split personal computer system |
| OF THE INVENTION The terms "internet" and/or "communication link", as used herein, refer to any ... |
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| Split personal computer system |
| OF THE INVENTION The terms "internet" and/or "communication link", as used herein, refer to any ... |
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Method and system for selling and purchasing media advertising over a distributed communication network
| Details |
Inventors: Del Sesto, Justin;
Assignee: DirectRep, LLC (Washington, DC)
Primary Examiner: Colbert; Ella
Assistant Examiner:
Attorney, Agent or Firm: Swidler Berlin , LLP
A method and system for buying and selling media advertising units over a distributed communication network, such as the Internet, provides a server on network including a database containing information pertaining to available advertising units, such as advertising time slots in television programming schedules, provided by media content providers. The server provides buyers of the advertising units access to the database over the network, whereby buyers may search the database and make bids to the sellers for selected advertising units. Sellers of advertising units access the database over said network to enter the information, receive bids entered by buyers, accept bids, and enter contracts into the server for communication to buyers over the network. |
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DETAILED DESCRIPTION The present invention provides a solution to the problems and shortcomings in the art as described above, by providing a method and system for bringing media sellers and media buyers together at a central location over a distributed communication network, such as a server or whereby media advertising sellers are able to list their available advertising inventory (known as "avails" in the industry), media advertising buyers are able to input desired parameters of an advertising purchase, such as total budget, percentage of the budget to be spent by media type, desired demographics, cost per viewer (CPP), cost per thousand viewers (CPM), geographic region, and time period, and automatically retrieve matching avail results.
Buyers are able to view demographic information for the available media (as compiled by demographic research entities), schedule purchases according to the budget, media split and desired demographics, and vary parameters within the search results to obtain a number of different scenarios.
Buyers also are able to view previous bookings by quarter (or other time period) for particular avails, and previous offers for similar avails.
The present invention further provides a method and system wherein the central server enables buyers to make offers to media sellers on particular avails or groups of avails on-line, allows media sellers to receive all offers on-line and accept specific offers, modify specific offers, and enables the buyers to execute media purchase contracts and submit payment on-line.
The system may interface directly with the accounting/ledger systems of sellers and buyers, whereby payment may be passed through the server directly to the seller from the buyer, and automatically update the parties' financial and accounting records.
The present invention further provides automatic verification for buyers that their ad or commercial actually ran according to the contract.
The invention further provides a makegood bank wherein account of credits owed to a media buyer are automatically kept
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Finance 
