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Making the case for investing in audio ads in 2024. Podcast advertising in 5 charts. US adults spend a fifth of their daily digital media time with digital audio. Global Podcast Listeners Forecast 2023 (Insider Intelligence subscription required).

Our take: There’s money in audio advertising, and Spotify has its eye on the ball. We forecast that Spotify’s ad revenues will increase nearly 50% this year, totaling $1.15 billion this year and $2.13 billion by the end of 2024. This was originally featured in the eMarketer Daily newsletter. For more marketing insights, statistics, and trends, subscribe here.

Now, advertisers will be able to use customer data from Macy’s and Bloomingdale’s to run a wider range of display, CTV, and audio ads via the ad tech vendor’s platform.

It also began testing two new in-store ad formats—in-store demos and in-store audio ad spots—to provide advertisers another way to connect with new and hard-to-reach customers. International sales. The company plans to reach $200 billion in gross merchandise volume in foreign markets within five years, which is double its current rate, said Judith McKenna, president and CEO, Walmart International.

In 2018, 57.8% of US digital audio revenues came from subscriptions. This year, the figure will be 64.1%. Audience-approved. Digital audio listeners are increasingly opting to reduce the number of ads they hear. In 2023, there will be 7.1 million more US paid digital audio subscribers than last year, totaling 142.5 million people.

Walmart continues to make enhancements to its retail media network, Walmart Connect, by adding new partnerships and expanding in-store media formats like product demos and audio ads. Special delivery: Walmart has been building its logistics capabilities, which the company is now leveraging for internal and external purposes.

Now, advertisers will be able to use customer data from Macy’s and Bloomingdale’s to run a wider range of display, CTV, and audio ads via the ad tech vendor’s platform. Marketplaces will need to respond to evolving consumer behaviors to stay front and center. Gen Z uses social channels like TikTok and YouTube for product search more than older adults, per Jungle Scout’s Q1 2023 consumer survey.

Digital audio ad revenues will grow slightly slower this year than previously expected, but we have revised our growth expectations upward for the following several years. Consumer engagement with digital audio and podcasting continues to rise at a healthy clip. Ad dollars will continue to follow. Macroeconomic headwinds will create a 2023 dip.

Why retailers should explore in-store audio ads. How retailers can prepare for the holiday season in 5 charts. How Casper, Albertsons, and Nike gamify the customer journey. More Chart of the Day:. 8/23 - Programmatic OOH watch. 8/22 - Gen Z’s social motivators. 8/21 - Buying into Klarna. 8/18 - Agencies in review. 8/17 - Marketing measurement mix-ups.

These devices have often been tethered to phones, but new connected car systems and a more unified smart home could lead to digital audio ad innovations. How should advertisers and brands adjust to changing device patterns? Explore new mobile activities for advertising opportunities. Mobile remains the leading device for a broad range of activities.

Walmart has introduced audio ad spots to Walmart Radio, giving advertisers the ability to purchase ads by region or by store so they can more accurately target consumers. Hy-Vee is using digital displays installed in aisles, across meat and seafood counters, and in food courts to enable ad partners to reach shoppers in-store.

What they found, a couple things. 41% of audio ads generated correct brand recall in these follow-up surveys compared to 38% which was the norm for all other advertising, mainly video.

I'm already seeing a trend growing where people are asking for similar self serve tool for video building ads, audio ads where you can just generate a script, you can add an audio track and you can just produce a audio ad immediately or a video ad where you can add interactivity layers on top. I'll make it a shoppable video or add a video topper in the beginning, make it a bit more interactive.

And then you think, 'Oh, I'd also like to do some digital audio ads.' And then all of a sudden, the next time you chat internally about how to do your retail media spend, you've got five different agency partners on the Zoom with you, and each of them is trying to muscle in and have a say in how this relationship gets handled. And that creates a coordination problem.

Among US podcast ads, pre-roll spots generated about 5% more website visits during Q2 than those in the middle of an episode. While that margin is fairly slim, both placements produced better results than post-roll, likely because earlier spots catch listeners before they drop off.

These days advertisers want a cross media picture of their investments and eye tracking isn't super useful when you're measuring attention paid to audio ads, for example. So it can snowball out of control really fast on that standardization piece.

Vibenomics and Stingray Advertising are combining their networks to offer in-store audio ads across 25,000 grocery, convenience, home improvement, and drugstores. Macy's is also now serving contextually targeted ads to in-store shoppers, and advertisers can already buy placements on 170,000 digital screens across Walmart's nearly 5,000 US stores.

Coca-Cola used AI image generation tool Stable Diffusion to help create an award-nominated ad called Coca-Cola Masterpiece that was whipped up five times faster than it would've been, thanks to AI, and Spotify is seeing if it can train AI on specific people's voices to one day generate original audio ads from scratch.