Some new insights reveal that audio advertising may be a rising star of the digital advertising space.
When you think about digital advertising, what probably comes to mind are things like paid search, ads on social media channels, display advertising and maybe even video ads. But have you ever thought about audio advertising? It’s media and it’s digital, so by definition, it’s digital media.
Now, some new insights reveal that audio advertising may be a very effective channel that few are paying attention to.
In the information cited in this article, Seventy-eight percent of 7,000 U.S. consumers surveyed by Nielsen (and quoted in WARC’s report) said they do not mind ads or sponsorship messages because they know they fund the podcast. And liking these ads might mean people go on to buy: 62 percent said hearing ads on podcasts would make them consider new products or services.
What makes this interesting beyond being a promising digital advertising channel is that it also reveals a changing relationship between content and those that consume it and the role that advertising can play in the relationship between content creator and content consumer. In the case of this relationship, consumers acknowledge that it’s the advertising that makes the content they like possible.
Considering the rising mistrust of online advertising and the increasing number of consumers using ad blockers, finding ways to make digital advertising less intrusive becomes a worthwhile goal.
It should be pointed out that the article references podcasts where the relationship between the content creator and the listener is likely to be much deeper. We’re not aware of any data that looks at ads on podcasts compared to music as platforms like Spotify have both.
There’s also a second reason this is of particular interest, many of the AdTech and digital media projects that we’re following in the emerging blockchain space are looking at the relationship between content publishers and content consumers as a core component. This includes the idea of allowing content consumers to “reward” content creators directly using cryptocurrencies such as the Basic Attention Token from Brave Browser. In addition, the more a publisher creates content that consumers like, the more they’ll be able to generate revenue when their audience views ads delivered by these platform.
To learn more about what we’re doing in the blockchain space and about the MarTech, AdTech and digital media projects emerging that are leveraging blockchain technology, visit https://www.ltrdigitalgroup.com/blockchain/