“About a quarter of user time spent on mobile is spent listening to music and podcasts,” Payam Shodjai, director of project management at DoubleClick (DBM), told Ad Exchanger. “Marketers want to reach their audiences wherever they are. We think audio is a part of that story.”
Marketers can access ad inventory from Google Play Music, Spotify, SoundCloud and TuneIn from launch and Pandora will be added soon.
Pandora is already a major player in programmatic audio, having acquired AdsWizz, a full stack platform, in March, although this operates as an independent subsidiary.
Eric Picard, vice president of product management at Pandora, recently told eMarketer that a lack of inventory had been one of the factors holding back the growth of programmatic audio.
There was enough to execute a national buy, he said, “but the minute you laid any amount of targeting onto it, the amount of available inventory was evaporating pretty quickly”.
That situation appears to be changing. When MightyHive, a programmatic solutions partner, used Bid Manager to access audio ads on Google Play Music, it was able to uncover new audiences for its CPG client and deliver over 7.5 million impressions and more than 7,500 clicks across mobile web, desktop and app, achieving ad completion rates over 95% and a CTR of 0.11%.
Initially, advertisers will only be able to execute audio buys through direct and guaranteed deals.
“The auction will very likely come in the coming quarters,” said Shodjai. “We’re working on it. We have to make sure the right supply is available. There’s a little bit of education required on both sides, but it’s just a matter of time.”
Sourced from DoubleClick, Ad Exchanger, eMarketer; additional content by WARC staff