#Audio

Back in 2022, IAB predicted that podcast ad revenue would surpass $4 billion in 2024. We’re now in May 2024, and IAB has released a new report granting advertisers insight into the current state of podcast advertising. Is the industry still on track to hit that $4 billion milestone? What do advertisers need to know about targeted ads and consumer tracking in the podcast medium? Let’s dive into the report and learn about what podcast advertising can offer your business.

In a stunning move, three big names in the world of live sports streaming are teaming up to build a “new and exciting platform” launching later this year. Disney, Fox, and Warner Bros. Discovery are all contributing to a new yet-to-be-named streaming entity in an unprecedented partnership that aims to streamline (or monopolize, depending on how you look at it) the sports-viewing experience.

A crucial skill in marketing is knowing what types of ads work best for each stage of the sales funnel, as well as finding and filling the gaps. Long-thought to be top-of-funnel-only, we here at Genius Monkey have found that audio ads have become extremely flexible in the modern age, and can help you propel your customers through every part of their purchase journey. Let’s take a look:

We at Genius Monkey believe that constant, steady improvement is key to success not only in your advertising endeavors, but in the tools we use to make it possible. We’re excited and eager to share some of the latest additions and improvements we’ve made to the Genius Monkey platform. Ad Size Data Tracking A new ad size reporting display in the dashboard allows you to more quickly see which of your display ad sizes served the most impressions and received the most clicks at a glance, you can have speedy, valuable insights into exactly which ad dimensions are performing the best. You can take these learnings of which sizes and dimensions your audience is responding to best into your other marketing mediums: tweak your print ads, landing pages, website, and more based on what works.

Podcasts have continued to skyrocket in 2022, hitting over $1 billion in ad revenue. According to a report by IAB and PricewaterhouseCoopers, podcasts are growing twice as fast as the internet advertising market as a whole. Before recently, advertisers could only purchase audio directly through Pandora, iHeartRadio and Spotify, but there was no way to attribute lift or conversions in doing so. In the past two years, Genius Monkey has made it possible to track these via impression-level tracking from knowing when someone hears an ad and converts afterwards.

In the wake of 2020, it seems consumers can’t get enough of digital audio. With over 200 million listeners in the US, digital audio is now ranked among the top most-popular digital activities for American adults, directly behind video. Because of this growing momentum, more and more marketers are updating their campaign strategies to include audio ads–and you should too. Rising opportunities with programmatic audio Thanks to podcasts, audiobooks, music and online playlists, streamed audio content has seen massive growth in recent years, as have programmatic audio ads. In fact, 2021 has shown that an estimated 72% of U.S. adults are listening to digital audio every single month, making it a prime opportunity for marketers to reach new audiences via the airwaves. But the benefits of programmatic audio ads don’t stop there. Programmatic audio ads have a lot more to offer than one might think, such as:

While 2020 has brought dramatic changes to the ad market, one medium is still going strong and continues to climb: audio ads. Programmatic audio ads allow advertisers to reach target audiences beyond screens, thereby expanding their reach and potential conversions. And 2020 is the year to start including these powerful ad types to your marketing campaigns. Why? We’ve got a few powerful reasons for you to consider, along with the latest statistics proving just how influential audio ads are in today’s market.