Last week, we shared a post recapping a few of the themes at the 2018 NAB Radio Show. One of those themes was the fact that Generation Z doesn’t think about radio. That might sound crazy, but it’s true. Radio might still be the dominant way that people consume audio (92% of all audio listening occurs on AM/FM), but the students from the University of Central Florida at the event agreed that they aren’t listening to the radio as we know it.
“Young people don’t call it radio, they call it Z100 or Elvis Duran. The new generation has a lot more options and we have to serve them and recognize the change that has happened to the marketplace as a result of technology,” iHeartMedia CEO Bob Pittman said.
The younger generations aren't wrong though, radio has transformed. Honestly, most of us don’t even refer to it as radio these days. Much like video and digital advertising, radio is now part of a larger group known as audio advertising. The fact remains that, audio is bigger than it has been in years. We’ve been saying this a lot lately, but audio is hot and it's not just a trend. The SiriusXM purchase of Pandora is a prime example of this.
How do we know that audio is here to stay?
Audio ties your brand to the songs and shows that your consumers already love. We’ve always known how powerful positive associations can be and that hasn’t changed.
Despite the changes in radio and additional ad streams such as digital, audio ads continue to reach more people on a monthly basis than both Google and Facebook. Radio alone reaches 245+ million listeners every month.
From smart speakers that tell you jokes on command to streaming podcasts with personalized ads, consumers are spending more time enjoying screenless media. Even radio is experiencing changes. With the click of a button, listeners can access their favorite NYC radio station. As smart speakers and other voice technology becomes more commonly used, it's increasingly important for brands to create connections through audio.
Programmatic makes audio advertising precise and relevant. Not only does this make it more scalable than ever before, but there is real data to prove that it works. And even that is improving every single day thanks to things like new attribution capabilities.
Have you noticed any interesting audio advertising trends? Chat with us about them on Twitter!