The Interactive Advertising Bureau has introduced its “Digital Audio Advertising Overview” Platform Status Report, which defines the digital audio category and provides a snapshot of the marketplace audience size and demographics as well as outlining the players in the market, the vehicles currently used to deliver content and advertising formats, and some of the most important metrics for measuring success.
The report is the first from the IAB’s new Digital Audio Committee, a forum for industry leaders to discuss issues, promote the platform and find ways to make it easier and more appealing for buyers of advertising.
“Music forms the soundtrack to our lives and, increasingly, that soundtrack is being delivered digitally, often via the Internet,” said Randall Rothenberg, President and CEO, IAB. “Advertisers have taken note of this, and marketers are incorporating digital audio into their campaigns across a number of significant verticals.”
An Arbitron and Edison Research study from April indicates that about 27% of U.S. online users, or roughly 70 million individuals, listened to online radio in the previous month. 17%, or about 43 million people, listened to online radio in the previous week. Tapping into this audience represents an enormous opportunity for advertisers to increase the reach and effectiveness of both terrestrial radio and digital/web ad campaigns.
“The landscape of companies participating in the digital audio sector is broad and diverse and encompasses both the traditional radio world as well as pure-play digital natives,” said Andy Lipset, President, TargetSpot, and Digital Audio Committee co-chair. “This report lays out common terminology and definitions for digital audio advertising, so that the industry can speak with the same language, and it highlights the platform as a viable and exciting channel for interactive advertisers.”
The Digital Audio Committee was formed last December with the goal of establishing industry guidance through standards and best practices to help bring clarity to the audio marketplace. The committee strives to educate marketers and agencies about the value of audio as a powerful and effective advertising medium.
The committee consists of various players in the audio ecosystem and the IAB is actively looking to increase its size by encouraging interested parties to become members of the IAB. Current committee members include:
Clear Channel Radio
Cox Cross Media