Following last week’s announcement that CBS was investing in TargetSpot,  the NYT provides some details on how CBS Radio hopes to use the steaming ad platform’s to make its 100 online radio sites more appealing to advertisers. In particular, the network hopes to attract businesses that usually focus on local newspapers or inserts because they find radio too expensive. Under TargetSpot’s automated system, advertisers will bid for slots within CBS online radio. Although the piece doesn’t note it, it looks like CBS involvement with TargetSpot is similar to its work - and equity funding—with Spot Runner, which operates an automated ad system for online TV sites.

SEE ALSO: -- TargetSpot Gets Funding From CBS Radio And Others For Streaming Ad Platform

The kind of streaming ads backed by demographic and geographic data provided by TargetSpot are also offered by SWMX Softwave Media Exchange, which started last June, and Google Audio, which recently signed a deal with Clear Channel to sell ads across its 675 radio stations. The space will likely see more competition given that by the end of 2006, 72 million people — 24 percent of the population — had listened to online radio within 30 days, according to market researcher Bridge Ratings. Last week, Bridge said that it expects that number to rise to almost one-third of the population by the end of this year.