As we embark on the audio journey of 2024, the landscape is undergoing significant transformations, with several trends shaping the future of audio advertising. Let’s explore the key developments that are set to redefine the way brands engage with their audiences through audio channels.
The Dominance of Programmatic Audio Buying
The Interactive Advertising Bureau (IAB) foresees a substantial shift towards programmatic audio buying, with podcasts leading the charge. Projections indicate a remarkable surge, with programmatic ad buying in podcasts expected to more than double from 4% to 11% of ad spend in 2023.
This upward trajectory is driven by significant platforms making premium inventory available programmatically, offering advertisers an avenue to extend their reach and achieve scalability in their audio campaigns.
Focus on Third-Party Measurement, Brand Safety, and Suitability
A heightened emphasis on third-party measurement, brand safety, and suitability is becoming increasingly apparent across the audio advertising landscape.
Advertisers are adopting new tools to ensure that ads are delivered effectively and in environments that align with appropriateness, relevance, and precision targeting. This emphasis becomes even more critical, especially with the approaching US election cycle and the growing prevalence of politicised content.
AI-Driven Creativity Reshapes SMB Audio Advertising
In 2024, small to medium businesses (SMBs) are anticipated to leverage the power of new generative AI tools, paving the way for non-audio advertisers to enter the audio realm quickly.
The convergence of AI and self-service programmatic audio is poised to drive a significant uptick in audio investment across the digital ecosystem. This democratisation of creativity enables SMBs to explore the dynamic world of audio advertising.
From Addressability to Attention at Scale
Privacy changes, including state regulations in the US, GDPR enforcement, and the depreciation of third-party cookies, are reshaping the advertising landscape. The industry is witnessing a shift from addressability to attention at scale in response to these challenges.
With targeted advertising facing increasing hurdles, the focus is returning to reach and frequency. The advertising industry is actively exploring attention as a new metric and currency, offering promising prospects for mobile gaming—a channel uniquely positioned to connect audiences with advertisers.
As audio advertising enters the dynamic realm of 2024, these trends underscore the evolving nature of the industry. Programmatic buying, enhanced safety measures, AI-driven creativity, and the shift to attention-centric metrics are poised to redefine how brands connect with audiences through audio channels. Advertisers and marketers keen on staying ahead of the curve should embrace these trends to craft compelling and resonant audio experiences in the ever-changing digital advertising landscape.
