Digital audio is increasingly playing a relevant role in society, as its use has experienced strong growth, especially in recent years, as shown in the study conducted by IAB Spain.
Just the advertising expenditure in Europe has increased from 246 million Euro in 2017 to 471 million Euro in 2019, expecting digital audio dvertising expenditure to reach 1.5 billion Euro in 2023.
According to *Audible Hörkompass’s 2021 survey, the average number of audio enthusiasts in the five largest EU countries is 45%.
To understand this upward trend, we need to analyse the main reasons:
- New consumption habits are emerging, as shown in said *survey, with 3/4 of respondents in Europe playing such content on their smartphone or tablet. They also conclude that once listeners discover the world of storytelling, audio entertainment, and information in audio format, they become loyal consumers.
- Consumers are increasingly avoiding eyestrain, and this format is perfect for this, as well as being able to listen while carrying out other tasks: going to work, cleaning or sports, as Sortlist’s 2021 survey shows.
- Increasingly more media outlets are turning their content to this format, as is the case of written press, which is transcribing to audio to turn readers into listeners, or television, which is creating audible content that is uploaded on exclusive audio platforms.
- Brands are starting to appreciate the importance of including audio branding in their communication strategies, which allows them to impact their customers several times a day through different points of contact (web, social networks, call centre, etc.) with innovative formats and personalised messages, in an environment with little advertising saturation, which listeners appreciate, connecting with the brand in a more intimate way and establishing a long-lasting relationship with the brand.
- The emergence of new technological devices such as smart speakers, bracelets, watches, etc., foster listening to audio.
Analysing the situation, the prospect could not be more favourable for this already consolidated medium that has many advantages: it gives way to more segmented and targeted advertising through habits of use of devices; it allows connecting with niche audiences with very specific interests; it creates a strong brand recall; it is exclusive due to its low saturation and considering it is heard without noise from other content and advertising impacts; its high engagement power and exposure time… All these are more than enough reasons for an increase in investment in this format and at NewCom we see how several of our advertisers are including this new way to reach their target in their strategy, taking advantage of all the benefits of acquiring digital audio that allows managing any campaign in any market, live or from our Trading Desk.
By: Carolina Diez Hernando