Digital Audio advertising is shining bright in 2023, with the IAB reporting digital audio revenue of $5.9 billion globally in 2022. More ad agencies are starting to prioritize audio for its contextual value, emotional connection, and the ad format’s ability to cut through the clutter.
Its ability to foster emotional connections with audiences without intruding on their lives is unrivalled given music and sound can also effectively operate in the background. With 8 in 10 media agencies now buying audio, marketers acknowledge and recognize the power of this medium. There are several audio flavors, such as the more common streaming, on-demand, and podcasts, and emerging new formats such as gaming, text-to-speech, and out-of-home. While marketers explore solutions to reach audiences more effectively, audio can achieve this with control, scalability, and transparency.
Audio’s convenience is a powerful asset in the brand marketers’ arsenal, as more people are using it for everyday activities like working out and commuting. Consumers are embracing digital audio as the perfect escape, and with so many choices available, the possibilities are endless. Audio advertising is becoming increasingly accessible.
As of January 2022, 35% of people ages 12 and over in the US owned a smart speaker, reaching audiences in different contexts, such as during screenless moments with tech or within interactive content, effectively engaging audiences in new ways. With screen fatigue and visual oversaturation, the possibility to connect with audiences in an authentic, immersive, and contextually relevant way has become so important. With so much money pouring into digital audio, it is crucial to know who is listening to these ads. According to research by Edison Research and Triton:
Here are ten reasons why brands love digital audio ads:
1. Brand suitabilityQuality audio inventory available for programmatic buying originates from reputable and credible publishers, many of which are enterprise media organizations adhering to the highest standard of content regulations. This makes the environment highly suitable and safe for brands across most categories to promote their products and services, with minimal fraud activity and avoiding the pitfalls of social media.
2. Reach acceleratorHalf of podcast listeners – 47% – are in the 12 to 34 age group, one third are in the 35 to 54 age group, and 20% are 55 and older (Edison Research’s Infinite Dial report). Overall, audio listening reaches a highly mobile audience. Additionally, Edison Research’s recent US Share of Ear report shows that podcast growth is now on “hyperdrive,” reaching 17% of ad-supported audio audiences, positioning it second only to FM/AM radio.
3. Addressability
Publisher-owned and operated platforms provide listener ID and first-party data such as age, gender, and interests for targeting. The availability of IP address and user agent provides matching when effectively paired with a data layering strategy, ensuring advertisers reach the right audience.
4. Contextual targetingDespite the shifts in privacy regulations and identification technology, audio remains resilient. Podcasts are contextually native, where an audience leaning forward signals their intention to engage and immerse themselves in topical content. This positions audio as a safe investment.
5. Quality, authentic, credible contentAnd speaking of podcasts, the quality of audio content published is highly relevant, popular, and trustworthy. This creates opportunities for brands to engage with listeners who trust the medium and the podcast show hosts.
6. High audience engagement
Daily, weekly, and monthly audio listening continues to rise, as documented by The Infinite Dial studies. Triton Digital data shows that listeners use audio-related apps for up to 4 hours daily, providing many opportunities to communicate your brand message to listeners at work, on the move, or at home.
7. Cost efficient
Programmatic audio floor prices are still relatively low for its performance and ROI compared to other formats. This space is still underinvested in and now is a good time to channel those ad dollars and gauge performance.
8. Non-intrusive
Today’s audiences are overwhelmed with many screen-centric options that cause fatigue and are more time-constrained. Audio can cut through the clutter by engaging with audiences in the background, providing a more personalized experience with no intrusive pop-ups, otherwise known as click bait.
9. Low skip rates and no ad blockers
Skip rates on audio ads are low to non-existent, and there are no ad blockers compared to other formats. When the creative is well produced, and there is a consideration for the environment, listeners do not find these ads intrusive. Podcast ads are a different breed of audio placement, driving high-value exposures for desirable audiences.
10. It grabs attention
Brands are increasingly prioritizing attention metrics for their ads. Audio continues to excel in capturing the attention and imagination of audiences through experiences that do not overload the senses as listeners lean in and provide their full attention. Audio fosters a deep emotional connection and strong message recall.
Here are the 20 global brands advertising on the Triton Audio Marketplace in 2023:
If you want to learn more about launching a programmatic audio advertising campaign, contact the Triton Market Operations team at marketops@tritondigital.com today!