Streaming audio and podcast advertising had a healthy 2020, but campaign integration could be hampered by audio advertising being planned and bought in siloed teams, according to the IAB’s Advertising Audio State of the Nation Report Wave 5.
The report, released at IAB’s Audio Summit today, found that 69% of media agencies now report streaming digital audio advertising as a significant or regular part of their activity. Meanwhile, 36% report that podcast advertising is a significant or regular part of their activity.
However, the report noted that campaign integration could be hampered by audio advertising continuing to be planned and bought in siloed teams, with only 56% of agencies planning and buying digital audio collaboratively with digital display activity, and 53% planning and buying in combination with digital video activity.
“When we started the Audio State of the Nation Research five years ago, digital streaming and podcasting advertising didn’t sit in either traditional or digital budgets,” says Gai Le Roy, IAB Australia CEO.
“Today, we are seeing an increase in the amount of agencies planning and/or buying their broadcast radio and streaming audio in an integrated manner, however with the increase in programmatic investment across all channels, there is still room for audio investment to be baked into cross digital programmatic campaigns.”
For the first time, the report revealed the top seven genres identified by agencies for podcast investment, with news taking the top spot, followed by society & culture and then business.
The report also found one third of media agencies are still not tailoring creative to suit different audio environments when running campaigns across different broadcast and digital audio advertising options. However, agencies are noting fewer barriers to creating creative assets including digital voice.
The Audio Advertising State of the Nation Report is supported by 18 different media and tech companies, as well as industry body Commercial Radio Australia. Fieldwork was conducted by independent research company Hoop Group from December 2020 and January 2021 with 222 respondents.
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