The world of audio is changing, and the possibilities for advertisers in the space are growing. In this article, Kym Treasure, founder & CEO of Audacia Audio, delves into the significance of digital audio advertising in today’s dynamic marketing landscape.
For the first time streaming, on-demand audio has passed linear audio listenership. According to Edison research as of the end of Q2 2023, 50.3% of all daily audio time consumed by those in the U.S. age 13+ is now on on-demand platforms and 49.7% is on linear platforms. In 2023, there will be trillions of on-demand audio streams annually. While global markets will have varying shares, streaming audio has now become a fixture in the lives of many globally as they soundtrack their lives – be that relaxing, learning, commuting, working out, partying, or anything in between.
Though the above statistics should not point to traditional audio one day reaching zero and on demand being the only way people consume audio – it’s likely people will always have demand for some form of directed radio – this habit change is creating opportunities for marketers to engage audiences in moments and ways previously impossible. With numerous channels available to interact with target audiences, integrating digital audio advertising into a multi-channel marketing strategy is becoming increasingly indispensable. This can become all the more powerful when activated via programmatic technology – allowing for greater targeting control, flexibility and speed to market.
Audio advertising includes podcasts, radio, music streaming and even within gaming platforms. According to PwC’s Global Entertainment & Media Outlook digital audio is one of the fastest-growing advertising channels. In Asia Pacific, spending on audio advertising is expected to double between 2023-2025 from $2bn to $4bn annually. Marketers are increasing spend as consumers see
