Unveiling the Evolution of Digital Audio Advertising in Europe: Six Key Insights from the 2023 Report
We are thrilled to share the release of our much-anticipated The Evolution of Digital Audio Advertising in Europe Report 2023, conducted in collaboration with GroupM Nexus. This report is packed with invaluable insights, offering a comprehensive overview of the current trends and investment strategies in the digital audio advertising landscape. Brace yourself for a glimpse into the promising future that this dynamic channel holds for marketers across Europe.
Download the report today and discover the following six key insights and more:
- Enhancing Wider Media Plans
According to our findings, 65% of European buyers consider audio’s ability to enhance wider media plans as the top driver for investment. This shows the critical role that digital audio advertising plays in the broader marketing mix, solidifying its position as a strategic tool for capturing audience attention.
- Rising Investment in Digital Audio
The report reveals a remarkable surge in the interest surrounding digital audio advertising. An impressive two-thirds (66%) of media buyers surveyed expressed their intention to invest more in digital audio within the next 12 months.
- Diverse Formats and Channels
Investment in digital audio is experiencing diversification, with various formats and channels capturing marketers’ attention. Streaming services, podcasts, and online radio are leading the way as preferred ad formats, catering to diverse audience preferences and consumption habits.
- Optimism in Digital Audio Advertising
Marketers are optimistic about digital audio advertising, with 76% of advertisers and agencies planning to increase their investment over the next 12-24 months. This optimistic outlook can be attributed to the channels proven effectiveness in conveying brand messages and driving results.
- Key Drivers for Digital Audio Spend
Our report identifies the key drivers behind the increased spending on digital audio advertising. The top three factors include incremental reach, innovative activation techniques such as dynamic creative ads optimisation (DCO), and improved targeting efficiencies.
- Mobile Audio Engagement: A Valuable Opportunity
With 7 in 10 marketers anticipating a substantial rise in connecting with audiences through audio ads on mobile devices, digital audio offers a unique opportunity to engage with consumers throughout their day.
For an in-depth analysis of the current audio investment landscape, the key drivers behind advertisers, agencies and publishers, as well as the challenges they face, download the full Evolution of Digital Audio Advertising Report here.