IAB Australia released a report on the state of digital audio advertising in the country. According to the findings, eight out of 10 media buyers have purchased streaming digital audio advertising. That high interest is expected to boost growth in digital audio and audio programmatic.
Half of the survey respondents said they are either already buying programmatic audio inventory or plan to do so in the next year. Private programmatic marketplaces secured 36% of the responses. Traditional radio spot buys were still the most common at 74%.
“With over 12 million Australians now consuming music and other audio content on their devices every month, this is an increasingly important channel for marketers to reach consumers in a wide range of locations and moods,” IAB CEO Vijay Solanki said.
“It’s crucial that as an industry we educate, handhold and direct advertisers on the exciting benefits of this ever changing and most importantly evolving radio advertising medium,” said Rick Gleave, director of business development at Pandora and chair of IAB’s Audio Council. “The more cohesion we have as an industry, the greater the benefit to all involved, including the consumers who ultimately dictate the quality and profitability of the industry.”