Eight out of 10 media buyers have bought streaming digital audio advertising, according to IAB “Digital Audio Advertising: State of the Nation” trade survey. It also reveals Australian agencies are leveraging their existing audio expertise by using the same team for broadcast radio and streaming digital audio planning and buying.
The study was commissioned by the IAB Audio Council in collaboration with Commercial Radio Australia (CRA) and executed by independent research firm Hoop Group. The research details how agencies and marketers are currently using different forms of audio advertising including broadcast radio, DAB+, streaming digital audio and podcasts and delves into their plans for 2017.
According to IAB CEO Vijay Solanki, 2017 is the inflection point for audio in Australia and we can expect significant growth in digital audio and audio programmatic.
“With over 12 million Australians now consuming music and other audio content on their devices every month, this is an increasingly important channel for marketers to reach consumers in a wide range of locations and moods This study, which has truly been an industry collaborative project, provides the market with key information on how to optimise these opportunities,” said Solanki.
The study shows that half of agency respondents surveyed are either already buying programmatic audio inventory or fully expect to do so in the next 12 months. Podcast usage is expected to increase in 2017 with three in 10 respondents planning to trial podcast advertising – on top of the 38 per cent who have already incorporated it into their buys. Brand awareness is cited as the most common and main objective for broadcast, streaming and podcasts, followed by support for promotions.
The study shows high levels of agency satisfaction with audio advertising in terms of meeting objectives and being cost effective, but also noted a desire from buyers to see improvement in audience measurement systems and guidance in measuring effectiveness.
“The importance, seen in the strength and growth, of audio streaming is evident in these findings,” said GroupM head of mobile Venessa Hunt, adding that the industry had long been waiting for independent research illuminating the current state of Australian audio. Far from being about the migration from broadcast, Hunt believes the study emphasises how changing consumer habits are unlocking new moments and new ways for brands to engage.
“With audio streaming in our pockets, consumers enable the opportunity to have a sound track to their lives all the time,” said Hunt. “With the increase in accountability and measurement of these advertising environments, those brands without an audio streaming strategy will miss out on those moments in our lives. The cost of inaction will be felt as competitors take advantage of this space in a personal and highly targeted environment.”
The inaugural audio state of nation survey has allowed both traditional and streaming radio players to come together and work collaboratively for the first time.
“It’s crucial that as an industry we educate, handhold and direct advertisers on the exciting benefits of this ever changing and most importantly evolving radio advertising medium,” said Rick Gleave, director of business development at Pandora and chair of IAB’s Audio Council. “The more cohesion we have as an industry, the greater the benefit to all involved, including the consumers who ultimately dictate the quality and profitability of the industry.”
Commissioned by the IAB Australia Audio Council, the study was sponsored by ARN, Eardrum, Nova, Pandora, Southern Cross Austereo and Spotify.
DoubleVerify has today announced the launch of the DV Publisher Suite, providing the measurement, insights and tools digital publishers need to improve ad delivery, assess inventory quality and maximize yield. For publishers, generating revenue has never been more complex. Today’s demand-side landscape consists of thousands of potential buyers, each with their own unique requirements, transacting […]
The Australian Open has confirmed a start date of February 8, 2021 with strict COVID-19 testing procedures in place. Following weeks of negotiations with the Victorian government, Tennis Australia exec Craig Tiley confirmed the Australian Open had been given the go-ahead. As reported in the Herald Sun, Roger Federer and Serena Williams will start arriving […]
Verizon Media has announced the launch of its new unified identity solution, Verizon Media ConnectID. Built on the foundation of Verizon Media’s consumer-first values and market-leading advertising technologies, the new unified ID solution is designed to support advertisers, publishers and consumers as the digital landscape evolves away from cookies as a way to manage and […]
Apple has laid out its plan to remove the Identifier for Advertisers (IDFA), marking a major change in mobile identity. In this piece, head of identity APAC at PubMatic, Harui Imaim, shares her thoughts on how advertisers can navigate these upcoming changes. This year has brought many changes, not least of which are shifts in […]
Val Morgan Outdoor (VMO) has secured an exclusive large format tender with next-generation, iconic screens at one of Sydney’s key retail, commuter and entertainment destinations, World Square. With market leading technology, VMO will deliver the ultimate immersive experience in the form of truly intelligent, curved internal LED screens and a hero screen spanning 8 metres […]
It was announced today that Yeesum Lo will join 10 ViacomCBS in the newly created role of Head of Development. Reporting directly to Head of Programming, Daniel Monaghan, Lo will be responsible for identifying and developing locally produced Australian content across all channels and platforms in conjunction with the wider Network 10 team. Lo joins […]
On Friday 27 November Bunnings launched their biggest ever Christmas activation, which was created and brought to life by strategic brand, commercial and experiential agency Bastion EBA. To bring a little magic to this Christmas, the activation involved lighting up one of their Melbourne warehouses, Bunnings Warehouse Maribyrnong. This resulted in a spectacular Christmas lighting […]
TikTok has always been about bringing people together to inspire each other and share moments of joy. It’s also a place to find your community, no matter your interests. This has never been more important than in 2020. From devastating bushfires, to a global pandemic that introduced us to social distancing and loss, to community […]
VMLY&R NZ announces Fleur Head is stepping into the role of Managing Director VMLY&R New Zealand following the resignation of current MD James Mok. Head was previously Managing Director of VMLY&R Wellington. Wellington-based Head, who has more than 25 years agency and management experience across both the Auckland and Wellington markets, will lead VMLY&R NZ […]
Wild Turkey and Creative Director Matthew McConaughey, in partnership with Eleven, unveil a new Wild Turkey With Thanks initiative. The integrated campaign is shining a light on Australian Local Legends who have stood with conviction supporting their environment and communities throughout the crises of 2020. Wild Turkey’s With Thanks is a global, annual platform, wherein […]
AIA Australia has announced that it is now the official life, health and wellbeing partner to the AFL’s St Kilda Football Club. According to the company, the new partnership will provide club members with learnings, tools, and strategies that they can use to lead healthier lifestyles. Members will at the same time receive access to […]
Small to medium sized businesses will now be able to advertise on TikTok through SaaS solutions provider AppsVillage (ASX:APV). APV will allow SMBs to create and manage campaigns on TikTok in under three minutes using its AI software and advertising management platform JARVIS. The partnership makes the most of TikTok’s self-service advertising offering which launched […]
To keep pace with their transformative technology, Advanced Navigation turned to DOUBLESTAR CO for art direction, 3D modelling and design help that would capture the value proposition and offering of Advanced Navigation: AIR, LAND, SEA & SUB-SEA for their upcoming campaign “Accurate positioning in the most demanding conditions”. Advanced Navigation’s Head of Marketing Romain Pare […]