Make Some Noise: Media Cos. Jockey To Help Brands Up Their Audio Ad Game
- Date: 29-Jul-2020
- Source: Forbes
- Sector:Financial Markets
- Country:GCC
Make Some Noise: Media Cos. Jockey To Help Brands Up Their Audio Ad Game
Brands are upping their audio advertising game, and a host of media companies are jockeying to woo ... [+] their business (Photo by Mikhail TereshchenkoTASS via Getty Images)
Mikhail Tereshchenko/TASS
In the kingdom of brand experience, audio is emerging as the next successor to the crown. Not surprisingly, a swell of media companies are jockeying to help advertisers make some noise“”and woo their business.
In recent weeks NBCUniversal launched a TV-based audio ad solution, Pandora set up a B2B offering to augment its advertisers' messaging, and music-sharing company Earbuds is about to introduce its inaugural brand sponsorship program. Spotify just extended its Group Session listening party functionality to remote usage; an ad-supported extension could well follow.
The reasons for audio's ascension are myriad. Among them: In 2020 a greater number of adults in the U.S. will listen to digital audio than radio for the first time, according to eMarketer. More than 75% of brands are increasing their spend in digital audio. And although U.S. podcast ad revenue is expected to slow this year in light of the pandemic, it still will grow 14.7% to reach $812 million, according to the IAB's annual study.
It's particularly