IAB Europe's Digital Audio Day: Event Wrap-up!

Tune into IAB Europe’s Digital Audio Day Wrap-up - Watch the full video recording here. 

We completed our first ever Digital Audio Day event on 22nd Oct. And what a day it was!

Bringing together the shapers, creators, and noisemakers of digital audio advertising, this event uncovered everything we wanted to know about the emerging digital channel that has captured the attention of consumers and brands alike. Featuring a series of in-depth panel discussions, keynote presentations, and fascinating fireside chats from IAB Europe member companies, we really did unlock the real potential that Digital Audio has to offer.  This is why we have put this post together. So you can find an overview of each of the sessions covered, as well as video recordings for you to view in your own time.

Tune in, and enjoy!

Keynote presentation - Deep Dive into Digital Audio

Daniel Knapp, Chief Economist, IAB Europe

In the first session of the day, Daniel gave an overview of the audio market and showcased the potential for Digital Audio in Europe. He looked at its evolution from traditional radio, and how the impact of the pandemic has, in fact, facilitated its long-term growth. But whilst there is a key opportunity here, there are also limitations that we, as an industry, need to overcome if we want to unlock its full potential. Especially when it comes to programmatic. 

Watch the session recording here.

Panel 1: The Digital Audio Landscape 

Digital audio is earmarked as a key driver for future digital investment. As such, our first panel of the day explored what the landscape in Europe looks like and how we can tap into the opportunity available. Our experts highlighted exactly what digital audio means, the key challenges and opportunities for buyers and publishers, and whether or not there is more hype than scale, to manage advertisers’ demand. 

Clementina Piazza, Automation Lead UK, Spotify moderated the panel and was joined by:

• Daniel Knapp - Chief Economist, IAB Europe
• Nina Harvey -  Global Head of Audio and DOOH, Business Development, Magnite
• Adam Bowers - Commercial Business Development Manager, BBC World Service

Watch the session recording here.

Key takeaways:

• Lockdown changed digital audio consumption. Where the drive time or commute initially shifted consumption down, people soon adapted to new working conditions. They have recognised the need for downtime and to take time to listen, away from their screens.
• In a crisis, there is an opportunity for innovation. Audio provides a flexible environment for advertisers to experiment with new ways of reaching audiences. 
• In order to dial up the volume on audio, we need to give it time and attention. It cannot be an afterthought. We also need to be able to understand measurement and attribution to prove how it works at scale. 

Keynote presentation - The Audio Opportunity for Publishers

Chiara Ferraris - Go to Market EMEA, Google

“Audio ads can drive 24% higher ad recall (on average) than display ads”

In this keynote presentation, Chiara explored the audio potential for all publishers. She revealed how to monetize digital audio ads and how different types of audio inventory can unlock new possibilities for publishers.  

Watch the session recording here. 

Fireside chat: The Future of Audio is Now

Rak Patel - Regional Head of Sales UK and Pan-EMEA, Spotify & Amy Butterworth, Media Manager, Tesco

In this fireside chat, we got the low down on audio from a brand’s perspective. Tapping into Tesco, Rak invited Amy to share her thoughts and experiences on how the evolution of audio has impacted the brand’s use of the channel. She discussed the value it brings in terms of context, what Tesco looks for in an audio partner and what most excites her about the future of audio. 

Watch the session recording here. 

Key Takeaways

• The key to a good audio partner is agility, flexibility, and transparency.
• Podcasts play a key role for Tesco, as they allow the brand to deliver a message with authenticity.
• There are a lot of opportunities available in audio and data is where the future lies. It’s about how to make smart decisions, keep on top of innovations, and adapt quick enough.  

Panel 2: The Future of Audio - Innovations & Creativity

In our final panel of the day, our audio experts discussed why creativity is so important in the digital landscape. They discussed how advertisers can utilise audio in their creatives, why programmatic is so vital to the channel, and what the biggest innovations in digital audio are, that we can expect to come.

Rob Timony, Business Director, AudioXi moderated the panel and was joined by:

• Artur Semionov - Head of Product & Innovation, EMEA, Xaxis
• Moomal Shaikh - Senior Product Manager, Oracle Data Cloud
• Elsa Kalervo - Digital Audio Manager, Bauer Media 

Watch the session recording here.

Key Takeaways:

• You get the full attention of the listener with audio and it is a powerful way to influence and create an emotional connection. The creative needs to be personalised and tailored to this environment.
• Programmatic audio brings new benefits to the channel, including efficiency of activation. It also unlocks a new layer of targeting options. Whilst this is still a niche part of digital audio, it will grow significantly in the next couple of years. 
• The biggest innovation in the next couple of years will be transparency and measurement of the ad experience. Once we have this, we will be able to help monetize that ecosystem. 

Keynote presentation - IAB Tech Lab Audio Initiatives

Mike Midden - Director Product Management, Ad Experiences, IAB Tech Lab

In our final presentation of the day, Mike talked us through the IAB Tech Lab’s podcast technical working group. He discussed the measurement guidelines the group has in place and the most recent updates that have been made to the framework, which will be released in the next few days. He also delved into the IAB Tech Lab’s goal to provide further consistency when it comes to audio measurement.

Watch the session recording here. 

Thank you to all our speakers and to those that have contributed to our Digital Audio Guide. This will be released very soon, so please do keep your eyes (and ears) out for that.

*Mic drop*