To our readers: A version of this story was originally posted to RBR.com and shared in the June 16 Afternoon Headlines E-mail that contained inaccuracies regarding SiriusXM Media’s new partnership with integrated ad server Innovid. The Radio + Television Business Report is committed to accuracy in its reporting, and is offering a corrected version at this time, distributed June 17 in the daily headlines e-mail to its subscribers. We apologize for any confusion created from our originally posted story.
NEW YORK — For marketers and advertisers today, how many consumers are exposed to an advertisement and just how that communication may convert into a purchase is a key metric and gauge of campaign success.
A new partnership between SiriusXM Media and integrated ad server Innovid tied to the digital audio purveyor’s Pandora ad-supported streaming business and SiriusXM podcasts is designed to aid CMOs in getting a fuller understanding of the campaign’s ROI.
As shared this week by Sirius XM Holdings, SiriusXM Media is partnering with integrated ad server Innovid “to address challenges in audio measurement, particularly how digital audio is captured in MMMs.”
While audio gets 25% of time spent in media, it receives less than 8% in ad investment, SiriusXM bemoans. Thus, SiriusXM asserts, the partnership “bridges that gap by improving how audio is measured in Media Mix Models (MMMs), giving advertisers clearer insights into ad exposure and conversion paths, and ultimately showing brands why audio deserves greater value in the media mix.”
This specific partnership with Innovid is for SiriusXM Media, the company’s advertising organization, to help pass granular ad campaign data (such as DMA, audience, product, placement, creative, reach, frequency, and more) specifically for campaigns across SiriusXM Streaming Network (Pandora, SoundCloud, and more) and the SiriusXM Podcast Network.
This is not measuring SiriusXM satellite at this time and is not measuring specific listenership. A previous version of this story incorrectly reported the nature of the agreement with Innovid.
A blog post from SiriusXM elaborates on its new partnership with Innovid, which does not track listenership but rather captures rich data tied to ads airing in the Pandora and podcasting environments under Sirius XM Media. It builds on work that continues between SiriusXM and vendors such as Nielsen, among other partners SiriusXM says it uses.
“For some media companies, it’s about keeping up with innovation,” the company led by CEO Jennifer Witz writes. “For us, it’s about leading the change to deliver innovative solutions. And our partnership with Innovid—one of the most widely integrated ad servers in the industry—is one more way we’re doing exactly that. Together, we’re bringing better data around digital audio performance to media mix models to help brands and advertisers better plan and evaluate their media investments.”
Specifically, the Innovid ad measurement partnership demonstrates, in SiriusXM’s view, how it is taking steps to ensure that the measurable impact of streaming music and podcasts are accurately represented in MMMs.
Some 61.4% of U.S. marketers are using MMMs to augment their measurement strategy in the future. A September 2024 eMarketer report noted that 30.1% of these marketers trust MMM to most accurately determine key business drivers.
Read SiriusXM’s Innovid blog post in full by clicking here:
https://www.siriusxmmedia.com/insights/siriusxm-media-innovid-advancing-audio-in-media-mix-models
