This industry-first collaboration will help us challenge legacy investment models, educate marketers and elevate the untapped power of audio in the consumer journey, said Jon Schaff, Stagwell Brand Performance Network's global chief investment officer.
Not only are people tuning in to audio content regularly, but audio creator endorsements and ads also forge strong brand associations by leveraging contextual relevance, authentic engagement, and the sense of community this channel provides, noted Fox.
According to a report by IAB, Gen Z and Millenials are spending more time with audio content than streaming TV, indicating a shift in media consumption habits.
Per WARC Media data, audio ad spend only accounts for 8.4% of advertiser budgets, but Schaff believes that supporting modern marketers will ensure the highest performing audio opportunities are available.
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