An audio option for big brands that giant conglomerates don’t like.
Ad analytics platform Innovid has announced the addition of audio ads to its omnichannel delivery system. As digital audio usage has been on the rise since pandemic blockchain and even earlier, advertisers are looking to use audio and publishers are looking to monetize it.
One of the keys to attracting more advertisers to audio is measuring and proving its impact. By bringing audio into the omnichannel system, Innovid seeks to measure audio alongside TV, video, display and social advertising. Digital audio advertising spending in the U.S. is projected to exceed $5 billion next year.
Nationwide is among a dozen clients that will work with digital audio when Innovid launches new features.
Why we care. The race to measure audio and attract more advertisers to buy and profit from it has now turned into a sprint as the streaming giants in the audio space consolidate. If you’re a small publisher of indie podcasts, you have to prove that your audience can make an impact on the numbers. Otherwise, it would be easier for a major advertiser or its media agency to plan an audio campaign within one large conglomerate, such as iHeartMedia’s Private Marketplace. Programmatic buying in digital audio still has room to grow as this space evolves. According to the same study cited above, the share of programmatic buying in the audio pie will grow to 21% in 2020, up from 16.5% last year.