You may have heard the term “Golden Age of Audio” in the last year or two. This refers to a reinvigoration of audio consumption thanks to new technologies which has made listening to your favorite content easier than ever. As a proof point to this phenomenon consider the fact that audio consumption in the US has gone up 37% since just 2015. So yes, we’re listening to a heck of a lot more audio today than just a few years ago.
Thanks to audio’s surge marketers are expected to put more money into the space than ever before. According to Jacob’s Media by 2020 US audio revenue will top $20B, from just over $16B right now, with digital audio capturing $7B of that total. Given the heightened focus on audio brands need to understand the differences between the various distribution channels (AM/FM, Streaming, Downloads, Satellite, etc.), to make sure the investment in their platform of choice is giving them the best ROAS.
To that point Pandora’s SVP of Sales Steven Kritzman lays out a compelling set of arguments for the particular advantages streaming audio has over broadcast radio in this AdWeek guest column. According to Kritzman personalization and the one-to-one delivery of streamed audio messages (think unicast instead of broadcast), gives marketers the power to deliver the right message at the exact moment needed to the precise listener they’re trying to reach. These advantages, combined with a much lighter ad load and a guaranteed delivery of ads, makes streaming the perfect bullseye for brands’ audio target.