The State of Audio Advertising Report: Insights and Trends from the CAO Summit

The Media Roundtable is back! This week, we’re bringing you a key report from our CAO Summit: The State of Audio Advertising. 

Dan Granger (CEO & Founder, Oxford Road) took the stage at Spotify’s Pod City campus with fellow Oxford Road luminaries Steven Abraham (President, Oxford Road), Giles Martin (EVP of Strategy & Insights, Oxford Road), Miranda Romano (SVP, Media, Oxford Road), and Neal Lucey (EVP, Strategy & Product, Oxford Road). They presented a first-of-its-kind report to help CAOs understand where we’ve been, where we are, and where we’re going.

The team covers: Automation–Our Frenemy, Going Global, Sufficient Brand Safety & Suitability, Transformational Tactics, and so much more. Let’s dig in.

“What is the state of audio advertising? It's under construction.”

Automation: Our Frenemy 🤖- Can an industry built on authentic host reads embrace automation? Partially. We believe in leveraging AI to boost efficiency and help reach new audiences. As long as we understand, the automation is here to support authenticity, not supplant it. This industry exists because of the hard-earned trust between host and listener–it’s the not-so-secret sauce of podcast advertising.

Going Global 🌍 - The rest of the world is catching up to the US, which should be exciting news to every CAO. The international ad market is less developed, so while opportunity knocks for early movers, it can be a bumpy road to traverse. 

Transformation Tactics 📈 - 2024 is still the age of efficiency, so your campaigns have to work hard. Our quick tips: Longer ads work better (If you’re running shorter ads, make sure they’re priced equivalently). Want more conversions? Focus on reach over frequency. With all of the non-exclusive talent deals, it pays to shop around. Get closer to the host for lower CPMs. And as always, host-read ads perform better and connect with listeners in a way that cannot be replicated by AI. #SaveTheLiveReads.

Civility Suffices 🤝 - Brand safety and suitability matters... While there are no perfect options in a complex world, with the right tools, it’s not an either/or proposition. For a good litmus test (with fewer false positives than the now-defunct GARM framework) check out Seekr’s Civility Score (an Oxford Road partner). Using the Civility Score can double your access (34% to 69%) to top podcasts that support a healthy dialogue, and ultimately help you avoid brand safety landmines.

To start implementing these tactics today, download the full State of Audio Advertising report and watch the accompanying Media Roundtable episode for expert commentary and real-world applications by clicking the links below.

Bianca Gorodinsky