The rise of digital audio across various platforms has been high in recent years, and with the introduction and emerging popularity of podcasts, it seems advertisers are willing to invest heavily in digital audio.
Music and radio have been riding the wave of audio for a long time, and still remain popular among many. Podcasts provide an alternative option, similar to radio, however, podcasts can be streamed and downloaded as well as watched and listened to on platforms such as Spotify and YouTube. UK advertisers have noticed the rise in digital audio and as result, they have predicted the ad spend for digital audio to rise significantly in the next 12 months, according to recent study.
The report carried out by DAX, highlighted the high interest in digital audio. The report revealed that interest among advertisers in digital audio is stronger than ever. Seventy-eight per cent of UK advertisers say that they will increase spend across music and digital radio, whilst seventy-five per cent said that they will increase investment in podcasts, in the next 12 months alone. With listening figures for podcasts growing across many platforms, advertisers have identified them as a key part of their digital strategy moving forward. Eighty-six per cent of advertising agency executives and 66% of brands said that they now see digital audio as a key part of media strategies.
Ollie Deane, Director of Commercial Digital at Global, said: “The findings in this year’s report show an extremely positive outlook for digital audio advertising, with 85% of advertisers planning to invest further in digital audio over the next twelve months. The ability to target a listener at the right time, in the right place and in the right context, has always been and continues to be our focus at DAX. Now, the value proposition and opportunities in digital audio are clearer, so too is the prominence of digital audio in advertisers’ media strategies. As new technologies continue to emerge and we see campaigns tailored to listeners in connected cars, cross platform attribution and improved measurement tools will be essential for driving the industry forward.”