Advertising investment in digital audio can be expected to grow significantly in the UK over the next 12 months, with the majority of advertisers admitting they will pump more money into the channel.
A survey of 215 senior and mid-level executives at leading media agencies and UK brand owners, commissioned by Global’s DAX and conducted by MTM, found that 78 per cent of advertisers say they will increase spend across music and digital radio over the next year. 75 per cent will choose to increase investment in podcasts.
The findings show that there is a growing confidence in the power of digital audio advertising. This is further highlighted by 86 per cent of ad agency executives and 66 per cent of brands now seeing digital audio as a key part of their media strategies.
The four factors identified by respondents as being the driving forces behind investment in digital audio were increased podcast listening, smart speakers and connected cars, the rise of programmatic trading, and cross-platform targeting opportunities.
“The findings in this year’s report show an extremely positive outlook for digital audio advertising, with 85 per cent of advertisers planning to invest further in digital audio over the next 12 months,” said Ollie Deane, director of commercial digital at Global. “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.”