By Adam R Jacobson
RBR + TVBR
Here’s a statistic that shouldn’t surprise many of you: More than 75% of marketers are interested in programmatic buying for streaming music.
With Pandora, Spotify, and Tidal already attracting subscribers and iHeartRadio, Radio.com and TuneIn among the largest services offering streams of AM and FM radio stations and internet-only audio choices, digital audio advertising is powering up.
“It may be the least flashy of digital channels, but more than a century after the introduction of broadcast radio, audio is hotter than ever,” states the September 2016 study “Programmatic and the Rise of Digital Audio,” conducted by Advantage Business Research for Advertising Age and The Trade Desk.
BIA/Kelsey and eMarketer recently shared that ad-supported revenue for U.S. internet radio will grow from about $2 billion in 2014 to more than $4 billion in 2017. New research from the Advantage/AdAge/The Trade Desk indicates that 38.6% of respondents believe digital audio “is an important part of their marketing mix.”
How are “traditional” radio companies responding, if at all?
The efforts should start by promoting radio’s positive programmatic possibilities.
These efforts should have started yesterday, as a PR war is being unfairly won by the likes of Pandora and Spotify.