Not advertising in digital audio is wasting a unique opportunity
Nearly half (47%) of European advertisers and agencies confirm that audio advertising is their first or one of their first choices as a means of communication, according to a new report by GroupM Nexus and IAB Europe.
Furthermore, 2 out of 3 advertisers plan to increase their investment in audio in the coming months, which is expected to result in a market exceeding €1 billion in 2025 on the continent.
Why invest in online audio advertising?
The study reveals that the three main drivers are the channel's ability to enrich overall media plans, brand recognition, and the potential to reach specific audiences. Most of the surveyed advertisers state that they are directing their spending toward streaming (59%), podcasts (59%), or online radio (57%).
Regarding podcasts in Spain, the iVoox Observatory specifies that advertising actions include mentioning sponsored brands, advertising spots (i.e., pre-recorded ads), and social media campaigns.
In Argentina, eMarketer estimates that podcast growth will reach 17.9% by 2025, surpassing North America and Europe. Statista also broke down the consumption demographics for 2022: 32% of millennials listen to this type of content, followed by 24% of centennials, 21% of Gen X, and only 7% of boomers.
According to Marketing Directo, audio offers numerous opportunities for advertisers and publishers because it reaches highly connected audiences at times when audiovisual media cannot, thereby complementing media plans.