The technical advancements in radio, music streaming, and podcast advertising has given rise to multiple avenues for advertisers to reach their desired target audiences in 2023.
Radio maintains a strong position in global advertising due to low production costs and high ROI; second only to TV. Radio’s audience also remains incredibly substantial and varied, spanning age, gender and interests.
According to recent research, audio ads integrated within personalised playlists have a huge impact on long-term memory. This highlights the opportunity for advertisers to not only reach large and varied audiences, but stay with them long after their ad has played.
Unlike radio, podcasts dedicate content to a specific topic or interest. This means that advertisers can match brands and services to particular programme interests.
The Road Ahead
With global audio streaming service subscriptions predicted to hit 1.3 billion by the end of the decade, and global ad spend in radio and digital forecast to reach $38.75bn (USD) before the end of 2023, it seems the audio market and its opportunities for advertisers is only gaining momentum.