Content consumption is on the rise, specifically, audio content consumption.
Apple music, Spotify, Pandora, music apps and other audio platforms make audio content much more accessible and easier to find. As more and more people listen to their preferred podcasts, music, and daily news using various audio outlets, advertisers are asked to adapt as well.
Listeners = potential paying customers.
Traditional publishers have the ability to extend their content’s reach either by investing in the production of original content in non-text mediums like short video clips and/or podcasts – usually time consuming and costly. New alternatives and features like audiate.me, help publishers automate the process of transforming text content into audio.
The cost the content creators incur if they try to make their content more accessible is a roadblock. Audio is a great way to make content accessible, not only for visually impaired individuals, but also for multi-taskers, short attention span individuals, and people on the go. That said, the cost of producing a podcast – both time and investment is not always as simple and “accessible” for content creators. When using a plug-and-play solution like audiate.me, publishers convert their content to audio at no cost, and can enjoy the new media as a source for incremental revenue. The marketers on the other hand, can use the same targeting methods and enjoy the benefits of using accessible media – a win-win in this complex ecosystem.
Typically, the way individuals with disabilities consume content is very different than individuals without disabilities. With this, marketers have to figure out ways to reach these populations, outside of their typical media plan. Helping publishers enable their content in a way that can be accessible, will help capture a segment of the population which otherwise would be challenged in consuming text content online. In theory, the lack of such content enablement for online marketers, might set the path for missed opportunities with perfectly suitable target users by not catering for such methods of content and ad delivery.
In the past few years, we’ve seen programmatic advertising grow exponentially. Content creators are introduced to new ways to expose their content – connected TV outlets, podcasts, and in short, new mediums where programmatic advertising can reach desired audiences and users. Advertisers are asked by brands and clients to renovate the buying methods and distribution channels. Automating the process of creating such distribution channels helps not only the actual publishers but also the marketers asked to expand the potential reach of their campaigns. Hyper targeted campaigns usually do not yield a diverse audience canvas. Yes, an advertiser always believes that the 200K+ HH will be the right receiver of an ad, but is that the only profile of user you would want to target? A new paradigm is being introduced to marketers of how to plan their media buys, if indeed they want to be inclusive and address individuals who use accessibility tools.
To simplify the argument for savvy publishers, when adopting new methods such as audio, you give your readers another method to consume your content. For readers with disabilities, the value is straight forward. Adopting an audio strategy is also valuable for your readers without disabilities. Publishers will not cannibalize their current monetization activities, in fact they will add to their current operations. If a certain user needs to consume content via audio, the publisher will potentially double-dip the monetization opportunity. Display placements will still be viewable, and the user while consuming content via audio will also be served additional audio ads. The time spent on the audio content will increase, as the user can go on with multi-tasking activities if they wish to do so.
The transition from terrestrial radio advertising to digital audio resembles the transition we’ve seen with linear TV advertising moving into connected TV. Targeting, scale, and all of the benefits from traditional programmatic moving into new channels such as CTV and digital audio. The market is on the rise and publishers joining at this moment enjoy a much higher demand for content than there is supply. Meaning, the fill rates, CPMs and general opportunities are currently widely available in the market.
To summarize, audio helps publishers enjoy a new way to not only further distribute original content, but also enjoy new revenue streams. Audio monetization is highly recommended.