The figure appears in the Audio Advertising State of the Nation report from IAB Australia, which also shows that buyers have an increased appetite for podcast advertising.
And there was strong evidence, too, that advertisers are increasingly keen to trial “dynamic audio creative development” in order to use to the full the data and targeting capabilities of streaming and programmatic audio.
An understanding of voice marketing was also on the rise, the survey showed, though adoption was currently at a low level.
Other headline findings from 2018 include:
- More than eight out of ten buyers bought streaming audio and it was regularly bought by more than 60% of media buyers;
- Podcast and DAB+ advertising had the greatest traction;
- 20% of media buyers regularly bought podcast advertising during the year – up from 14% in 2017; a further 40% of buyers experimented with podcast ads, and an additional 28% are looking to try them for the first time in 2019;
- Nearly a quarter of buyers have used dynamic audio creative so far but a further 57% are looking to recommend dynamic audio creative development for clients in 2019;
- The number of agencies using programmatic buying for audio was up slightly in the last year, but major growth is expected for programmatic guaranteed arrangements, with expectations this will grow from 37% to 47% in 2019;
- 50% of podcast ad investors have used the format to meet brand awareness goals versus just 12% of buyers using it for direct response campaigns;
- Voice marketing hit the radar for the first time in 2018 with 9% of buyers already active in this space, and it is emerging as a strategy for consideration through 2019;
- 70% of media buyers intend to invest in cross platform (broadcast and digital) opportunities from radio networks;
- Brand safety is less of a concern for most audio formats compared to other media options, but agencies are aware this needs to be kept in mind with podcasts because of the wide variety of content available.
Sourced from IAB Australia; additional content by WARC staff