“The results of the quarter are obviously no cause for celebration for the audio industry as a whole, but it’s worth bearing in mind that the reported decline emcompasses radio (FM and DAB), music streaming, podcasting and other formats. A number of other reports signal that online and digital audio is growing faster than any other media – which could mean that marketers are turning away from legacy media.
Despite the pressure on marketing budgets, the capacity to connect with your audience via the power of sound remains strong, especially with new and innovative formats: we see a continuous rise in smart speakers across the globe, the ease and efficiency of interactive ads, and the potential of in-game ads, which would tap into a very active and engaged community. Marketers should continue to see audio advertising as a great opportunity. And let us not forget that those who succeed now will be leagues ahead of their competitors when the market stabilises once more.” – Michal Marcinik, CEO, AdTonos.
If you’re interested in finding out more about the consumer spend slump, shrinking marketing budget, and future-proof data strategies, you can read the latest IPA Bellwether report. You can also read Performance Marketing World’s full article for more insights from other leaders in the industry.