Buying radio is often seen as a secondary adoption, securing just 9% of ad dollars, according to WARC. Many media insiders regard it as less effective in driving sales. However, new research indicates audio deserves respect — and another chance.
Mediapost reports new studies by dentsu and Lumen Research measured various audio formats and environments. A study released by dentsu in August found audio advertising (including podcasts, radio, and music streaming) drove significant attention, compared to other ad platforms. On average, 41% of audio ads generated correct brand recall compared to the 38% norm for other ads.
Radio was the most cost-efficient media platform in driving attention cost per thousand impressions (aCPM). Compared to the average online video ads measured through dentsu’s Attention Economy, the aCPM for radio is 10-times more efficient, per dentsu.
Such results have agencies rethinking how to make audio drive business revenue.
Graham Langosch, vice president, national audio practice at Publicis Media Exchange, told Inside Radio: “We've seen recent studies over the past year that show audio delivers results on par, or better, than other media types across the entire funnel in driving awareness and consideration, as well as some of those lower-funnel conversion metrics.”
Other agencies, including Carat USA and Horizon Media, have been touting audio, according to the trade pub. Langosch called it an “engaged and attentive medium” at an Advertising Week webinar.
Ad spending in the traditional audio ad market is projected to reach $12.7 billion in 2023, while ad spending in the digital audio ad market is projected to reach $5.87 billion, according to Statista.
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