Sonic boom: Brands plan significant increase in digital audio advertising
Digital audio is a rapidly growing platform. Consumers enjoy the content, and emerging technology are enables advertisers to reach their audiences in immersive new ways. New research suggests that brand spend on digital audio is set to rise significantly.
Advertising Age and The Trade Desk, along with Advantage Business Research, surveyed 532 media and marketing professionals about the future of digital audio ads.
In June 2016, respondents reported that approximately 7% of their advertising budgets were set aside for digital audio. However, data showed that planned investment by mid 2017 would reach 11.6%, marking a significant growth in allocation. 38.6% of respondents said that digital audio is an important part of their marketing strategy.
Music streaming services, such as Spotify, were of most interest to respondents (67.5%), followed by podcasts (41.7%) and formatted music channels (37.4%).
Programmatic and the Rise of Digital Audio is available here.