群邑：欧洲数字音频广告的演变 The Evolution of Digital Audio Advertising in Europe

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01

AD

TheEvolutionof

DigitalAudio

Advertising

inEurope

inassociationwith

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02

SurveySummary

HARRYHARCUS

GroupMNexus,EMEA

Audioisachannelbuzzingwithopportunityasbuyersandpublishersexpectnotablegrowthinthenearfuture.Asamediumthatreacheshighlyengagedaudiencesatmomentswhenitsmorevisualcounterpartscannot,audioiscapableofcomplementingbuyers’widerplansandpublishers’mediaofferings.Advancingthetechnologiesthatenableaudioadvertisingunlockscross-channeloptimisationandperformanceforbuyers,makingaudioinventoryevenmoreattractiveanddrivingrevenueforpublishers.

DANIELKNAPP

ChiefEconomist,IABEurope

From2018to2022,digitalaudiohasoutpacedallotheradvertisingchannelsinEuropeintermsofcompoundannualgrowthrate*.Thepandemicservedasacyclicalcatalystfordigitalaudio,particularlypodcasts,duetoariseinconsumption.However,structuralenhancementslikeimprovedmeasurement,simplifiedbuyingandautomationcontinuetoadvancethemarket.Theadvertisingindustry’semphasisonattentioninascreensaturatedmediaenvironment,qualityofreachandbrandsafetypositions

digitalaudioasapromisinginvestmentchannelforadvertisersandapotentplatformforpublisherstoexploitcontext.WeprojecttheEuropeandigitalaudiomarket,whichstoodat€772millioninadspendin2022,tosurpassthe€1billionmarkby2025.

*IABEurope’sAdExBenchmarkstudycurrentlymeasuresadspendfordisplay,audio,

social,video.RetailMediaisnotcurrentlyapartofthestudy.

02

Executive

Summary

Thissurveygatheredinsightfrombothbuyandsell-sidestakeholderstoascertainthecurrentinvestmentlevels,growthdrivers,barriersandopportunitieswithindigitalaudioadvertisinginEurope.

AUDIOISKEYTOCOMPLEMENTING

OTHERMEDIACHANNELS

`Advertisersandagencies’topthreedriversforaudioinvestmentincludethechannel’sabilitytoenhancewidermediaplans(65%),raisebrandawareness(55%),andreachspecificaudiences(48%).

`Almosthalf(47%)ofadvertisersandagenciesstateaudioadvertisingiseithertheirtoporamongtheirtopmediachoices.

MOBILEREMAINSTOPFORREACHING

AUDIENCES

`Mobiledevicesarethekeydeviceforreachingaudiencesconsumingaudiocontent;70%ofbuy-siderespondentssaidtheyexpecttoreachtheiraudiencesviamobiledeviceswhilst84%ofpublisherssaidthesame.

derstanding.

INTERACTIVEDEVICESANDDIVERSIFYINGPLATFORMSAREIMPORTANTTOINNOVATIONAND

GROWTHINDIGITALAUDIO

`Innovationwithindigitalaudiowillbeamajorgrowthdriver,withbuyersconsideringinteractiveanddynamicaudioadstobe

akeyopportunityforincreasingspend.Publishersmeanwhileviewtherisingavailabilityofaudioadsandoptimisingsupplyassignificantgrowthopportunities.

`Duetotheproliferationofaudiochannels

andadformats,buyersareinvesting

budgetacrossstreaming(59%),podcast

(59%),andonlineradio(57%),highlighting

theimportanceofaholisticapproachto

advertisingefforts.

KEYBARRIERSLIEINTHELACKOF

SKILLSETS

`Forbuyers,theabilitytobettermeasuredigitalaudio’simpactandupskillteamsinatechnicalandoperationalcapacitywouldencourageadditionalinvestment.Similarly,publishersconsidertheneedfortechnicalskillsetstobetheprimarybarriertogrowth.

THEFUTURESOUNDSGOOD

`Confidenceindigitalaudiowillcontinuetoriseasbothbuyers(74%)andpublishers(64%)seeopportunitiestoincreaseinvestmentinthecoming18-24months.Infact,one-quarter(24%)ofbothbuyersandpublishersexpectdigitalaudioinvestmenttorisebetween11-30%intheyearahead.

03

INTRODUCTION

IndustryStats

AccordingtoGroupM’sThisYearNextYear

2023GlobalMid-YearForecast,growthin

digitalaudiocontinueswithmomentum

andreached19.4%*growthin2022.In

addition,IABEurope’sAdExBenchmark

Reporthighlightsthatmarketswitha

traditionallyhighradioshareintheirmedia

mix,suchasIreland,Belgium,Germany,and

Spainhaveanabove-averageproportionof

digitalspendingdedicatedtodigitalaudio.

In2019,IABEuropeandXaxis,partofGroupMNexus,undertookasurveytoascertainthecurrentstatusandfutureofprogrammaticaudioinEurope.Fouryearson,withadspendgrowthcontinuingapace,wewantedtounderstandhowthelandscapehasevolvedandwhatnewopportunitiesexistindigitalaudioadvertising.Therefore,GroupMNexusandIABEuropeconductedasurveytofindout:

`Thecurrentlevelofdigitalaudiocampaignplanning,buying,andsellingknowledgeamongstbuyandsell-sidestakeholders

`Thecurrentlevelofdigitalaudioadvertisinginvestment,keyformatsforinvestment,andfuturegrowthexpectation

`Thekeydriversandbarrierstodigitalaudioadvertisinginvestment

IABEurope’sindustrycommitteescomprise

membersspanningtheentiredigital

advertisingecosystemwithindustryleading

representativesfromthesecompanies.

Theroleofthesecommitteesistoenable

cross-ecosystemcollaborationamongits

nationalfederationandcorporatemembers

todrivesolutionstosharedchallenges

anddevelopframeworks,standards,and

programmesthatcontributetosustainable

growthandinnovation.GroupMNexusplays

anactiveroleontheProgrammaticTrading

Committeeanddigitalaudioisoneaspect

thatiswidelydiscussed.

*2022growthratesforEurope&CentralAsiaindigitalaudio

04

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05

STATEOFPLAY2023

Methodology

&Participants

ThesurveyleveragedthenationalIABnetworkinEuropeandreceived549buyandsell-side

responsesfromacross29marketsbetweenMayandJune2023.

QInyourrolewhichregion/market(s)areyouresponsiblefor?

Austria

8%

Belgium

4%

Bulgaria

4%

Croatia

2%

CzechRepublic3%

Denmark

3%

Finland

3%

Romania1%

Serbia

1%

Switzerland2%

Turkey

4%

UK

Italy

11%

Latvia

1%

Macedonia1%

Pan-European3%

Other(pleasespecify)2%

Global-European

countriesplusothers

2%

17%

Ukraine4%

Slovakia

1%

Slovenia2%

Netherlands

2%

Spain7%

Norway

1%

Sweden

1%

Poland

8%

Portugal

2%

France

13%

Germany

5%

Greece

3%

Hungary

2%

Ireland

3%

05

06

METHODOLOGY&PARTICIPANTS

Q

Q

Isyourcompany/organisation?

30%

50%

20%

Anadvertiser

Anagency

Apublisher/mediaowner

30%

50%

20%

Howmuchtimedoyouspendlisteningtodigitalaudiocontentincomparisontoothermediachannels?

54%ofrespondentsstatedthattheylistenedtomoredigitalaudiothanothermediachannelsand24%statedtheyspentaroundthesametime.With22%sayingtheylistenedtolessdigitalaudio.

54%

ofrespondentsstatedthatthey

listenedtomoredigitalaudiothan

othermediachannels

22%

statedtheylistenedtoless

digitalaudio

IonlylistentodigitalaudiocontentAlotmoretimeAbitmoretime

AboutthesameLesstimeAlotlesstimeIdon’tlistentoanydigitalaudiocontent

8%

18%

27%

24%

1145%7%1%

06

07

Whattheindustrythinks

66

ofpublishersaregetting

1-25%oftheirtotal

advertisingrevenuesfrom

digitalaudioads

%

Audioadvertisinghasroomtogrow

08

08

Q

0%

Howhasthetotaladspendinvestindigitalaudiochangedsince2019vs2023?

1%-10%11%-25%26%-50%51%ormoreDon’tknow

3%

46%

27%

15%

8%1%

2023

2019

41%

43%

9%3%4%

Audioadvertisinghasroomtogrow

CURRENTSTATUS-SPENDANDINVESTMENT

73

ofbuy-siderespondents

saidthatbetween1-25%

oftheirtotaladspendwas

investedindigitalaudio

%

Seventythreepercent(73%)ofbuy-siderespondentssaidthatbetween1-25%oftheirtotaladspendwasinvestedindigitalaudio.Aquarter(24%)saiditwasbetween11-25%showingdigitalaudioisstillnascentintermsoftotaladvertisingbudgets.

Thepublisherstellasimilarstory,with66%gettingjust1-25%oftheirtotaladvertisingrevenuesfromdigitalaudioads.Whilstthereisstillalotofroomforgrowth,itisencouragingtoseethatinvestmentinthischannelhasseensome

increasesince2019.

In2019,just4%ofbuy-siderespondentsstatedthattheywereinvestingmorethan50%oftheiradbudgetsindigitalaudio,thishasdoubledto8%in2023.

PG

Q

09

09

Traditionalaudioisstillprimaryaudiochannel

Arangeofaudioadspacesarebeinginvestedin

Traditionalaudiostill

primaryaudiochannel

Intermsofinvestmentintraditionalaudiochannelsvs.digitalaudiochannels,21%ofbuyerssaidtheyareinvestingmorethan51%oftheiraudioadvertisingbudgetsintraditionalandjust15%areinvestingmorethan51%indigitalaudio.

Arangeofaudioadspacesarebeinginvestedin

Themajorityofbuyersareprimarilyinvestinginstreaming(59%),podcast(59%)oronlineradio(57%)adformats.Publishersaresellingmoreadsonpodcasts(68%),followedbystreaming(46%)andonlineradio(41%).

On-Demand

40%

32%

Streaming

59%

46%

Podcast

59%

68%

OnlineRadio

57%

41%

NoneoftheAbove

6%

9%

Other

1%

7%

Buy-sidePublishers

In2019,just4%ofrespondentssaidtheywereinvestingmorethan50%oftheiraudioadvertisingbudgetsinprogrammaticaudio,sodigitalaudiohasdefinitelyexperiencedtractionoverthepast4years.

QThinkingaboutthetypesofdigitalaudio,whatareyoubuyingorselling?

CURRENTSTATUS-SPENDANDINVESTMENT

Digitalaudioadvertisingisakeypartofthemediaplan

10%

%

20%

0

Fortysevenpercent(47%)ofbuyersstatethataudioadvertisingiseithertheirtoporamongsttheirtopmediaoptions.Lessthanafifth(18%)saidtheyrarelychooseaudioadvertisingtoreachtheirtargetaudiences.

Howwouldyourankyouraudioadvertisingspendagainstothermediatoreachyourtargetaudience?

Top-preferredchoice

High-oneofmychoices

Medium-equaltoothermedia

Low-chooserarely

16%

31%

18%

30%

35%

40%

59%

Streaming

59%

Podcast

57%

OnlineRadio

46%

Streaming

68%

Podcast

41%

OnlineRadio

09

PG

10

Q

33%

ofPublishershadalotofknowledgeonselling

23%

ofBuyershadalotof

knowledgeonbuying

LEVELOFUNDERSTANDING

Knowledgeofdigitalaudiocampaignsislimited

buthigheramongstsell-siderespondents

Whenaskedaboutthelevelofknowledgerespondentshadofdigitalaudioadvertising,around1in4buy-siderespondentssaidtheyhadalotofknowledgeonbuying(23%),planning(23%)andmeasurement(21%).Themajoritycited‘somelevelofknowledge’forthedifferentcampaignstages.In2019,just15%ofbuy-siderespondentswereveryconfidentintheirknowledgeofprogrammaticaudiowhich

seemstohaveincreasedovertime.

Publishersweremoreconfidentintheirknowledge,

particularlyinsellingandplanning.Thirtythreepercent

(33%)ofpublisherssaytheyhavealotofknowledgeof

sellingdigitalaudiocampaigns,30%saidthesamefor

planningand24%formeasurement.

Thinkingaboutaudioadvertising,howwouldyoudescribeyourknowledgeofthefollowingdigitalaudiocampaignelements?

23%23%

21%

Ihavealotofknowledge

24%

30%

33%

41%

36%

38%

Ihavesome

knowledge

28%

31%

37%

33%33%

29%

Iamawarebutnotfamiliar

23%22%

27%

6%

7%

7%

Idon’thavemuchknowledge

12%

11%11%

1%

4%

1%

N/A

6%

1%

2%

Buying

Planning

Measurement

Selling

Planning

Measurement

10

DEVICES

Mobileleadsaskeyaudiodevice

50%viadesktop/laptops,in-car(44%).homedevices(44%)andtablets(42%).

Asin2019,themajorityofbuyersexpecttoreachtheiraudienceswithaudioadsviamobiledevices(70%).Thisisfollowedbydesktop/laptop(48%),tablet(44%),in-car(41%)andhomeassistant/devices(37%).

Asimilarstoryprevailswiththepublisherswhere84%expecttoreachtheiraudiencesviamobiledevices,

Otherdevicesmentionedbyrespondentsacrossbuyandsell-siderespondentsincludedconnectedTV,gameconsolesandstandaloneradiodevices.

Whenplanningaudioadvertising,throughwhichofthedeviceslistedbelowdoyouexpecttoreachyouraudience?(selectallthatapply)

Q

BUY-SIDE

41%

In-Car

Desktop/LaptopMobileDevice

TabletDevice

Homedevice/assistants

Other

48%

42%

ofpublishers

expecttoreach

theiraudience

tabletdevices

70%

44%

37%

1%

0%

90%

20%30%40%50%60%70%80%

10%

PUBLISHERS

44%

50%

In-Car

Desktop/LaptopMobileDevice

TabletDevice

Homedevice/assistants

Other

84%

42%

44%

3%

`Standaloneradiodevices

50%

60%70%80%

0%10%20%30%40%

90%

11

70%

ofbuyersexpect

toreachtheir

audiencewith

adsviamobile

devices

Other:

`ConnectedTV

`GameConsoles

66%

66%

39%

Advertising/campaignrecall

BrandawarenessBrandaffinity

Purchaseintent

Likelihoodrecommend

SalesKPIs

Reachand

frequency

Audibility

Listenthroughrate

50%

45%

38%

29%

34%

33%

32%

24

13%

13%

30%

32%

47%

33%

37%

32%

54%

%

3%

1

Other

1%

4%

63%

64%

Q

12

METRICS

Digitalaudioprevailsasakeychanneltoreachaudiencesanddrivebrandmetrics

Thetopthreemetricsselectedbybuyersarereachandfrequency(47%),brandawareness(45%)andadvertising/campaignrecall(39%).SalesKPIswascitedastheleastimportantmetric.

Aswiththebuy-side,Publishersalsoselectedreachandfrequency(52%)asthemostimportantmetrictoevaluate

digitalaudiocampaigns.Thiswasfollowedbybrandawareness(48%)andadvertising/campaignrecall(45%)

Likelihoodtorecommendasametricfordigitalaudiocampaignshasincreasedovertimewith32%ofbuyersand24%ofpublishersnowusingthismetric;demonstratingthataudioiskeytobrandbudgets.

Whichofthefollowingmetricsareimportanttoevaluateyourdigitalaudiocampaigns(pleaseselectallthatapply)?

BUY-SIDE20232019PUBLISHERS

70%

27%

34%

%

30%

29%

4

38%

39%

38%

38%

43%

42%

5%

48%

52%

49%

20%

30%

50%

60%

%

40%

10%

20%

%

10%0

0

30%40%50%60%

TOPMETRICSFORBOTHSIDES:

70%

1.Reach&frequency

2.Brandawareness

3.Advertising/campaignrecall

Q

Intermsofdriversforinvestinginaudio,thetopthreechoicesamongstbuy-siderespondentswere

`Complementingthemediamix(65%)

`Raisingbrandawareness(55%)

`Reachingspecificaudiences(48%)

70%

60%

48%

50%

40%

Drivingsaleswasrankedastheleastimportantdriver.Audioiskeytotheomnichanneladvertisinglandscapeasbuyersseeitasimportanttotheirmediaplans.

Buyersalsocommentedonthefactthataudioisimportanttoreachayoungaudience,costefficiencycomparedtoTV,andinnovationwasalsonotedasakeydriver.

40%

30%

20%

4%

10%

1%

0%

13

Forsell-sideaudioisalsoimportantforcomplementingtheomnichannelmediaoffer

Q

50%

36%

52%

40%

30%

20%

4%

10%

0%

Complementing

ouromnichannel

mediaoffering

Increase

advertisingrevenues

Improveuserexperience

Other

DRIVERSANDBARRIERS

Inthesurvey,weaskedrespondentstoselectkeydriversforinvestinginaudioadvertisingoverallanddigitalaudiospecifically.

Audioisakeyadvertisingchanneltocomplementomnichannelmediaplansanddrivebrandmetrics

Intermsofsell-side,nearlytwothirdsofpublishers(61%)citedincreasingadvertisingrevenuesasthekeydriverforofferingaudioadvertising.Complementingtheiromnichannelmediaadvertisingofferingwasthesecondmostimportantdriverselectedbyhalfofpublishers(52%).Oneinthree(36%)respondentssaidthatimprovinguserexperiencewasakeydriver.

55%

Whatarethekeydriversforinvestinginaudioadvertising?

65%

60%

Whatareyourdriversforofferingaudioadvertising?

ReachRaisebrandComplementDrivesalesNoneoftheOther

speciicawarenessmediamixabove

audiences

61%

70%

13

PG

14

DRIVERSANDBARRIERS

Whatarethekeydriversforinvestingindigitalaudio?

BUY-SIDE20232019

ofbuyersstatedthattargetingefficiencieswerekey

42%

Digitalaudioinvestmentdrivenbyinnovationandefficiencies

Whenaskedaboutdriversforinvestingindigitalaudio,buyersstatedthatincrementalreach(46%),innovativeactivationsuchasdynamiccreativeadsoptimisation(43%)andtargetingefficiencies(42%)arekey.

Itisinterestingtonotethatdynamiccreativeoptimisation

hasrisenabovetargetingefficienciesasadriverofbuy-sideinvestmentindigitalaudiosince2019.Thisreflectstheindustry’scommitmenttodevelopmentandinnovationofthedigitalaudioadvertisingopportunityandbuyersprioritisationofadexperiencesforconsumersovermediaefficiencies.

Q

37

3

32%

%

8%

44%

43%

42%

63%

30%

7%

2

27

%

34%

37

%

46%

N/A

35%

N/A

2%

4%

1%

5%

Automation/

programmaticcapabilities

DataInsight

Reporting

Innovativeaction

(DCO,smartspeakerads)

Targetingefficiencies

Costefficiencies

IncrementalReach

Omnichannel

capabilities

Noneoftheabove

Other

0%10%20%30%40%50%60%70%80%

ofbuyerssaidthatincrementalreachwasakeydriver

46%

14

15

DRIVERSANDBARRIERS

Whatarethekeydriversforinvestingindigitalaudioadvertising?

Publishersarekeentoincreasemediavalueandmeetclientdemandwithdigitalaudio

‘Increase/maximisemediavalue’

(45%)wascitedasthenumberone

driverforinvestingindigitalaudio

advertising.Thiswascloselyfollowed

byclientdemand(42%)andtargeting

efficiencies(38%).

Q

PUBLISHERS

Automation/programmaticcapabilities

32%

47%

DataInsight

24%

44%

Reporting

24%

23%

Clientdemand

42%

41%

Targetingefficiencies

38%

48%

Costefficiencies/profitability

27%

35%

20232019

Trading/Operationalefficiencies

27%

31%

Increase/maximisemediavalue

45%

48%

Gaincompetitiveadvantage

28%

40%

Noneoftheabove

3%

3%

Other

4%

1%

Measurementandskillsarekeybarrierstoinvestment

Buy-siderespondentsratedmeasurementcapabilitiesasthebiggestchallengefordigitalaudioadvertisinginvestment,followedbytechnicalandoperationsskillsetoftheworkforce.Thethirdbiggestchallengeselectedwasmeasurementcapabilitiesforpodcastsspecifically,thiswascloselyfollowedbybrandsafety,fraudandtransparency.

Incomparison,publisherscitedtechnical/operationalskillsetoftheworkforceasthebiggestchallengefollowedbyavailabilityoftechnologyandunderstandingtheimpactoftradingdigitalaudioadsontotalrevenue.Costoftechnologywasalsocitedasakeychallenge.

15

FUTUREOFDIGITALAUDIOADVERTISING

months.Similarlytobuyers,24%expectittoincreasebetween11-30%.

Nearlytwothirds(64%)ofpublishersagreedthattherewouldbeanopportunitytoincreasedigitalaudiointheirplanning/spendofaudioadvertisingoverthenext18-24months.Only7%saidno,whilsttheremaining29%saiditdependsonovercomingchallenges.This18-24monthoutlookisalsomoreconservativethatthe12monthoutlookwhere75%expectedtheirdigitalaudioadvertisingrevenuestoincrease.

Q

16

13%

24%24%

7%7%

Buy-side

Publishers

4

4

%

%

3%0%

%

5%

15%

10%

25%

0

Thefutureofdigitalaudioadvertisinginvestmentsoundsgood

Twothirds(66%)ofbuyersexpecttoincreasetheirdigital

audioadvertisingspendoverthenext12monthswith24%

expectingittoincreasebetween11-30%.

Whenlookingatthelongerterm(overthenext18-24

months),3in4(74%)respondentsfromthebuy-sidesaid

therewouldbeanopportunitytoincreasedigitalaudioin

theirplanning/spendofaudioadvertising.

Publishersaremorepositiveand75%expecttheirdigital

audioadvertisingrevenuestoincreaseoverthenext12

20%

12%

12%

13%

17%

Increasingbylessthan10%

Increasingby1