The 3-Rs to Sell More Streaming Audio This week's Radio and Internet Newsletter (RAIN) Summit in Las Vegas featured experts speaking on a variety of digital topics. Jeff Wender, SVP/Digital at Nielsen, spoke on using digital audio measurement to increase digital advertising revenues.
He presented Nielsen research data showing how Americans spent their 46.7 hours of leisure time each month. He said the area of greatest growth is streaming music services -- up 40% from 2012 to 2013. He went on to point out that if you add in YouTube Music, 68% of people are using streaming music on a monthly basis. Mobile applications are driving much of the growth.
Wender said audio advertising spend would be going down if it were not for mobile audio, but agencies and advertisers want more information to justify ad investments in digital audio. He identified 3 buckets of measurement that will increase audio ad spend: Reach. Advertisers want comparability in research so they can validate audience demographics across platforms. They want to make sure they optimize delivery, receive transactional reporting, and have a measurement that tells if the consumer is listening at the device level, not just the publisher server logs.Resonance. Advertisers want to be able to track that they are making an impression and creating brand preference.Reaction. They have a desire to close the loop by quantifying dollar and cents return on their ad spend. According to Wender, big data makes this available today for major advertisers.Part of the issue with buying audio is the continuing fragmentation. Wender pointed out advertisers are looking at radio, digital, and what they separately are calling mobile. Radio stations combining streaming audio in a simple to use measurement system will grow revenue
(Source: John Potter, SVP/Professional Development, RAB)
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