1、In association with europe AUDIO STREAM REVENUE STREAM to 2 0 1 9 S U RV E Y Understanding the adoption and development of Programmatic Audio in Europe. PG 02 europe Were buoyed by the confidence that buy-side stakeholders will very likely plan to increase programmatic audio spend in the near future
2、, although there is work to be done to educate. We see consumers become more connected with the media they consume; marketers are in a prime position to take advantage of the capabilities programmatic audio can deliver to their marketing outcome. Programmatic transaction mechanisms have enjoyed wide
3、spread adoption in display, mobile and video advertising. Programmatic audio is still at a nascent stage but growing quickly. Innovative European companies, both those with a history in radio and online streaming, are helping to drive growth. Audios high level of consumer engagement married with the
4、 efficiency of programmatic delivery and brand safe environments creates a highly appealing media channel for brands. JOHN WITTESAELE EMEA PRESIDENT, XAXIS DANIEL KNAPP CHIEF ECONOMIST, IAB EUROPE “ “ EXECUTIVE SUMMARY PG 03 This survey was undertaken by Xaxis, in association with IAB Europe, the le
5、ading European-level association for digital advertising and marketing, in order to understand the drivers, barriers and adoption of programmatic audio advertising in a changing audio landscape. THE FUTURE The results show that the full potential of audio is not being realised within Europe but also
6、 an underlying optimism on the buy-side regarding increased spend over the next 18-24 months whilst recognising several challenges to be overcome. THE PRESENT Although 59% are already utilising the capabilities of programmatic audio to some extent, spend is low - over three quarters (79%) invest les
7、s than 10% of total ad spend on audio, and two-fifths (41%) allocate no budget to programmatic audio. Surprisingly, confidence in understanding is low, with only a small proportion of buy- side marketers (15%) feeling confident in their understanding of programmatic audio. However, when speaking to
8、the sell-side, this is doubled with 30% stating confidence in programmatic audio understanding. OPPORTUNITIES Despite the fact marketers are conservative in their approach to allocating significant budgets to audio, the top three drivers for investing in audio advertising are recognised as complemen
9、ting the media mix (63%), reaching specific audiences (59%), and raising brand awareness (58%). The key drivers for programmatic audio investment are achieving targeting efficiencies (63%) and taking advantage of data insights (44%). THE BARRIERS However, two strong barriers to progressing with audi
10、o investment are having a clear understanding of the impact of programmatic audio trading on total revenue (49%) and the availability of technology (44%). DEVICE CHOICE The majority of respondents agreed that to reach audiences, device choice is important, with mobile ranking top (88%) followed by l
11、aptop/ desktop (61%), in-car (59%) and tablet (46%). WITHIN EUROPE, THE FULL POTENTIAL OF AUDIO IS NOT BEING REALISED BUT OPTIMISM IS GROWING. europe STATE OF PLAY THE CURRENT STATE OF PLAY OF THE PROGRAMMATIC AUDIO ADVERTISING MARKET europe INDUSTRY CONTEXT Looking back twenty years, the technology
12、 infrastructure that underlay much of digital ad buying was designed for display, the format that drove the first wave of digital ad spend. Audio was not then a consideration and consequently missed out on this tech wave. This has meant that audio streaming platforms have had to invest more in propr
13、ietary ad tech, which has taken longer. Another area which has lagged behind is audio ad formats, where innovation has been slow and better ad formats are needed to capitalise on high user engagement and strengthen the position of audio as a complement to other media. There has also been an issue ar
14、ound supply of inventory which should improve as digital audio consumption increases. The high user engagement of audio lends itself to branding campaigns yet the metrics to prove reach and effectiveness have also needed to catch up. Latterly, industry agreement on podcast specifications, for exampl
15、e, has improved with the publication of Podcast Measurement Guidelines by IAB US in 2017.(1) 1) Source: PG 04 Birth of analogue radio 019902016 TODAY 1st audio ad hits the waves Music goes portable with cassettes, later CDs Internet radio/ MP3 formats heralds music digitalisation Tech inn
16、ovations allow on-the-go connectivity On-demand services, multi-device access and ad personalisation AUDIOS COMING OF AGE Audio DMP acquiredacquiredbuilt partners with partners with partners withpartners with channels demand BUY-SIDE funding from Note: Not exhaustive. Aim is to demonstrate variety o
17、f activity for ecosystem building. built Ad Studio SELL-SIDE PG 05 europe STATE OF PLAY USAGE GLOBAL LANDSCAPE AND KEY PLAYERS (5) GROWTH PREDICTIONS Digital audio advertising is set to become a 1bn market by 2022(6) driven by podcasts, music streaming services and digital radio. As was the case whe
18、n display started to be traded programmatically, the programmatic share of audio advertising is still small but will grow with the connected car, a key driver of growth.(7) 1,400 1,200 1,000 800 600 400 200 0 Europe: Digital Audio NAR ( Mil) 20172018f2019f2020f2021f2022f2023f F = Forecast 90 80 70 6
19、0 50 40 30 20 10 0 Annual Sales: Connected Cars (Mil) connectednot connected 20030 2) Source: Music Consumer Insight Report 2018, IFPI Global (Global data) 3) Source: MIDAS Spring 2019 4) Source: Bitkom, 2018 5) Source: IAB Europe 2019 6) Source: Company reports IAB Europe, RadioCentre, o
20、wn model 7) Source: PwC strategy 75% use video streaming services for music and 35% use internet radio. And 39% of time spent listening to music is on connected devices vs 34% on AM/FM radio.(2) More than half of UK adults listen to digital audio each week spending on average, 12.9 hours.(3) In Germ
21、any Podcast listening is on the rise. In 2018 22% of consumers tuned in to podcasts, compared with 14% in 2016.(4) METHODOLOGY AND PARTICIPANTS PG 06 SURVEY RESULTS THE 2019 EUROPEAN PROGRAMMATIC AUDIO SURVEY Xaxis, in association with IAB Europe, conducted a survey across Europe to gauge the changi
22、ng landscape of Programmatic Audio advertising. This online survey leveraged the national IAB network in 30 European countries to ensure a representative sample across European markets. The survey received almost 500 respondents between April and May 2019. Respondents came from buy-side 72% (agencie
23、s/advertisers) and sell-side 28% (publishers/media owners) and had both pan-European and global remits. Increased consumption of digital audio presents marketers with greater opportunities to engage with digital consumers. Audience data and creative options have improved yet questions about challeng
24、es have nagged the programmatic audio market. europe What are the drivers and barriers to programmatic audio investment? The survey asked: What the stakeholders knowledge of programmatic audio is? Do you plan to invest in programmatic audio in the future? PG 07 SURVEY RESULTS CURRENT STATUS LEVEL OF
25、 UNDERSTANDING 26% Not spending 74% Are spending 41% 43% 11-25% Less than 10% 9% 0% 3% (26-50%) 4% (50%+) Percentage of total advertising spend allocated: AUDIO ADVERTISINGPROGRAMMATIC AUDIO ADVERTISING I dont have much knowledge I am aware but not familiar I am familiar I am very confident Knowledg
26、e of programmatic audio 05540 sell-sidebuy-side 15% 14% 19% 32% 38% 30% 15% 35% The key findings show that although the buy-side stakeholders are already utilising capabilities of programmatic audio (59%), digital audio is still in early stages in development terms. A very small percentag
27、e of media budgets are being invested in digital audio, with an even smaller share being traded through programmatic. The level of understanding / knowledge is still low on the buy-side, although the sell-side feel more confident in their knowledge of programmatic audio. 30% ARE VERY CONFIDENT IN PR
28、OGRAMMATIC AUDIO SELL-SIDE 59% ALREADY UTILISING CAPABILITIES OF PROGRAMMATIC AUDIO europe 15% ARE VERY CONFIDENT IN PROGRAMMATIC AUDIO BUY-SIDE europe 88% EXPECT TO REACH THEIR AUDIENCES WITH AUDIO CONTENT VIA MOBILE DEVICES BUY-SIDE 89% EXPECT TO REACH THEIR AUDIENCES WITH AUDIO CONTENT VIA MOBILE
29、 DEVICES PUBLISHERS 61% VIA DESKTOP OR LAPTOP 73% VIA DESKTOP OR LAPTOP PG 08 SURVEY RESULTS DEVICES Mobile is the main device that the buy-side expect to reach their audiences through, although in-car and desktop/laptop are also valued. Publishers, on the whole, share similar device preferences alt
30、hough favour desktop/laptop more. Mobile device Desktop / Laptop In-Car Tablet device Home device / Assistants Other Devices expected to reach audiences when planning audio advertising 00708090100 89% 73% 61% 50% 59% 51% 46% 51% 37% 4% 4% sell-sidebuy-side 88% Drivers for investing 63% CO
31、MPLEMENT MEDIA MIX REACH SPECIFIC AUDIENCES RAISE BRAND AWARENESS 59% 58% OTHER 8% DRIVE SALES 26% Drivers for offering IMPROVE USER EXPERIENCE 38% 66% ENHANCE ADVERTISING OFFER INCREASE ADVERTISING REVENUES 64% OTHER 5% Targeting efficiencies Cost efficiences Trading / operational efficiencies Data
32、 insight Automation Reporting Gain competitive advantage Delivery of audio advertising campaigns at scale Dynamic creative ads optimisation (DCO) Other None of the above Key drivers for investing in Programmatic Audio (buy-side) 0070 38% 63% 37% 31% 27% 39% 19% 27% 4% 5% 44% Targeting eff
33、iciencies Cost efficiences Trading / operational efficiencies Data insight Automation Reporting Gain competitive advantage Increase / maximise media value Client demand Other None of the above Key drivers for investing in Programmatic Audio (sell-side) 0070 48% 48% 31% 3% 1% 44% 47% 23% 3
34、5% 40% 41% PG 09 SURVEY RESULTS europe INVESTMENT Audio is not a standalone channel - the key driver for investment is to complement other media and enhance the advertising offer. Programmatic audio investment is driven by targeting efficiencies and data insight (similar to the early phases of growt
35、h in other programmatic channels). BUY-SIDESELL-SIDE Important Campaign Metrics Brand Awareness Listen through rate Reach & frequency Advertising / campaign recall Audibility Sales KPIs Purchase intent Brand affinity Likelihood recommend Other 0004040505060607070 64% 49% 43% 63% 38% 34% 3
36、8% 13% 1% 27% 66% 54% 66% 50% 37% 32% 33% 29% 13% 4% PG 10 SURVEY RESULTS europe The same metrics for evaluating Programmatic Audio campaigns rank in the top 5 for both the buy-side and sell-side. On the buy-side, it becomes clear that these metrics tally with the drivers for investing into Programm
37、atic Audio. METRICS BRAND AWARENESS LISTEN THR0UGH RATE REACH & FREQUENCY ADVERTISING / CAMPAIGN RECALL AUDIBILITY BUY-SIDE TOP 5 METRICS SELL-SIDE 66% 54% 66% 50% 61% 64% 49% 43% PG 11 SURVEY RESULTS europe The top two barriers to programmatic audio investment for the buy-side are lack of an unders
38、tanding of its impact and the perceived low availability of technology. This is not that surprising due to the fact that programmatic audio is still relatively new in comparison to its counterparts, display and mobile, which have been traded programmatically for over half a decade now. BARRIERS TO A
39、DOPTION BUY-SIDESELL-SIDE AVAILABILITY OF TECHNOLOGY COST OF TECHNOLOGY PARTNERSHIPS WITH PUBLISHERS, AGENCIES OR ADVERTISERS CAMPAIGN MEASUREMENT HAVING A CLEAR UNDERSTANDING OF THE IMPACT ON TOTAL REVENUE 44% 24% 29% 36% 49% 45% 33% 40% 26% 33% Yes Depends on overcoming challenges No 00
40、70 66% 28% 60% 35% 6% 5% sell-sidebuy-side Opportunity to increase programmatic audio in planning/spend of audio advertising, in the next 18-24 month. PG 12 B U Y - S I D E S E L L - S I D E SURVEY RESULTS europe The future of programmatic audio is positive. There is a keenness from both the buy-sid
41、e and sell-side to increase advertising spend or investment. THE FUTURE 60% 66% PG 13 CONCLUSIONS CONCLUSIONS europe Marketers now see significant drivers for allocating more budget to programmatic audio, including its complementarity within the media mix. With audience consumption behaviour shiftin
42、g, those marketers who are forward-thinking in how they plan their audio spend, will surely deliver against their marketing outcome. And whilst we see positive attitude across Europe to embrace programmatic audio and its capabilities, there are still barriers and challenges which means there is a lo
43、t of work to be done in educating and informing those in charge of spend. Publisher/Media Owners expressed that they want to enhance their offer, improve user experience and increase ad revenue. When aligned against the buy-side view point, we see that there is clear potential in programmatic audio
44、for all players ready to grasp this opportunity and reap the benefits of this additional revenue stream. In conclusion, the future of programmatic audio advertising looks bright across Europe. PG 14 FOOD FOR THOUGHT europe Can you access quality audience data? How plentiful is inventory for your tar
45、get audience? Is there a good level of transparency on pricing and inventory? Which buying mechanism do you want to use for your programmatic audio requirements? Are you geared up to deliver effective creative? How much of your audio inventory do you want to make available programmatically? What is
46、the cost of the technology? What data integrations are available? What are the HR and training requirements? How do you scale your strategy for the future? TOP 5 CONSIDERATIONS FOR THE BUY-SIDE TOP 5 CONSIDERATIONS FOR THE SELL-SIDE CONTACT Leanne Mackee Director of Marketing, EMEA www.iabeurope.eu CONTACT Marie-Clare Puffett Marketing & Business Programmes Manager puffettiabeurope.eu europe
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