IAB Europe, the leading European-level industry association for the digital advertising and marketing ecosystem, has today released its ‘Buyer’s Guide to Digital Audio’ to help planners and buyers of media navigate the opportunities that a new world of audio creates for marketers.
This guide has been developed by experts from IAB Europe’s Channels & Formats Taskforce (a part of the Brand Advertising Committee). It provides harmonised definitions for digital audio in Europe, an overview of the evolution of audio advertising and the landscape in Europe, as well as key considerations and best practices for digital audio advertising. In doing so, it ensures that buyers of traditional audio and buyers of digital advertising have the necessary knowledge to implement effective digital audio advertising campaigns.
Digital audio is reaching a pivotal moment, where it is critical for buyers to understand this channel and to maximise their digital investment in it. Commenting on the opportunity of digital audio, Marco Bertozzi, VP EMEA & multi-market global sales at Spotify said “Audio consumption has changed drastically over the past decade. With the boom in smart speakers and other connected devices, consumers now have the ability to access streaming audio content, however, or wherever they like. Unlike other media, this makes digital audio unique in that it can be a constant companion. It moves with consumers whether they’re on the-go or winding down and comes in a variety of forms, from spoken word to podcasts to music and more. This offers fantastic opportunities for advertisers to reach engaged audiences. Digital audio is now paving the way for greater connection with audiences and has the ability to address consumers in a more personal way. With that, we believe that the runway for this medium is massive and we’re just at the beginning of seeing where it will go.”
It has been a collaborative effort to produce this first European-level guide for Digital Audio, with contributors including Spotify, Magnite, Oracle Data Cloud, Triton Media and Xaxis. Representatives from IAB Finland and IAB Italy also contributed their knowledge.
Commenting on the value of the Digital Audio Guide Steve Wing, head of EMEA at Magnite said “The IAB Europe Digital Audio Guide serves as an invaluable resource. Digital audio is a unique format and this guide offers actionable advice to help advertisers adapt their strategies to fit this medium for the highest impact.”
Moomal Shaikh, senior product manager at Oracle Data Cloud, reiterated this point, commenting that “It’s an excellent tool for savvy marketers to get a better understanding of just how large the audio opportunity is and how to capitalise on it in the coming months and years. The potential of this resonant and untapped medium is hard to overstate, and the Moat by Oracle Data Cloud team is excited to lead the conversation around the measurement of audio advertising.”
This guide is the second output from IAB Europe’s new Channel & Formats Taskforce and follows the ‘Buyer’s Guide to CTV’, which was released in June 2020. The taskforce was launched in January 2020 with the aim to increase awareness and drive investment by providing best practices and guidance in emerging and established digital advertising channels and formats. As we enter 2021, the taskforce will continue to focus on these emerging channels and will also approach new topics including influencer and creator marketing.
In order for channels like Digital Audio to flourish, it is vital to work together as an industry to ascertain guidelines and best practices. Commenting on IAB Europe’s focus to raise awareness, education, and standards in such channels and formats, Helen Mussard, marketing & industry strategy director at IAB Europe said, “When we set out this taskforce in January 2020, our main focus for the year was to build brand confidence and greater investment in digital advertising and marketing. Hit with the impact of COVID-19, we have seen just how fundamental this type of work is to our industry. Being able to provide a space for members to collaborate and share advice and best practices has never been more important. The Digital Audio Guide is proof of what industry initiatives can achieve when working collaboratively. It shows how they can open up new opportunities in the face of crisis and find keyways to overcome barriers to success.”
IAB Europe is working with some of its members to provide additional insight into channels such as the connected TV and digital audio landscapes in a series of Industry Insiders that explore buy-side
and sell-side perspectives, as well as how these channels sit in the broader advertising ecosystem. These will continue to be expanded upon, alongside new initiatives in 2021.