Venturenet Partners, a company that offers in-store digital radio for businesses, under the Spot Radio brand, and consumer internet radio services under the Radiowalla brand, has inked a deal with Aidem Ventures, under which, Aidem will handle service sales and ad sales for both the radio properties.

While Aidem manages ad sales for a lot of media companies, this tie-up is interesting since it will also look after, service sales, managing business tie-ups for the company. Spot Radio offers customized radio streams for retail businesses, which in addition to music and talk, also include ads and in-store messages related to the business; so service sales is in a way linked to overall sales. Following the tie-up, we feel that Aidem will be able to offer its clients a more targeted inventory across captive audience of brands, and across Venturenet’s internet radio.

Interestingly, Spot Radio sells 6 minutes of advertising per hour, even on its customized stations, for monetizing the service. It also allows businesses to monetize radio streams by selling airtime to other advertisers, and sharing revenue, under one particular plan.

AIDEM, earlier known as NDTV Media, has been looking after sales for Microsoft Advertising, MSN, MSN Video, MSN Mobile for a while now. Its other clients include The Economist, e BUS, Live India, The Economist, Al Jazeera and Sahara One among others.

SpotRadio & Radiowalla

SpotRadio claims to have presence across 40+ retail chains and over 3,000 locations in India including retail chains like Gloria Jean’s (Coffees), Costa Coffee, Lifestyle, Fastrack and Puma. The company had raised an undisclosed amount in a Series-A funding round from Ojas Ventures Partners, earlier this year.

At the time of writing this post, Radiowalla, SpotRadio’s internet radio venture was under an invite only Beta, offering a preview of its live music rooms that offer music streaming across different genres. It intends to offer an on-demand music playlist creation feature and talk radio content.

We wonder if the internet radio inventory would also include display ads on the player or the site. We’re not too sure if internet radio offers a good monetization opportunity in the current landscape. It’s hard to pull users unless the service offers additional features such as personalization and social integration, in addition to a large content catalogue. There’s competition from FM radio stations, music streaming sites and legal and not so legal music download sites.