Digital audio has emerged as a key battle ground in media, as incumbents compete head to head with internet businesses and streaming services – for audiences, advertiser investment, and subscription revenues. Streaming services proliferate across connected devices and platforms and radio apps, on-demand services and smart speakers are growing in popularity. Although radio has largely retained its reach, younger demos are shifting to streaming services, whose revenue growth is far outpacing commercial radio – UK music streaming subscription revenues grew 34% in 2018, reaching £829m, versus commercial radio revenues of £572m, up 0.2% on the previous year. Streaming subscription revenues now exceed the BBC’s total estimated expenditure on radio.
For advertisers, digital audio presents exciting opportunities – new forms of targeting and addressability, high levels of consumer engagement, access to hard-to-reach audiences, and more use of programmatic platforms and transaction mechanisms. However, the industry also faces important challenges, as competition intensifies, the market becomes more fragmented, and measurement becomes more problematic.
How will the digital audio market develop during the 2020s? Can UK radio services maintain current levels of listening and drive higher growth in revenues? How will the competitive landscape develop? Can podcasts become a mass-market commercial medium? What steps does the industry need to take to unlock the full potential of digital audio advertising and programmatic buying? Will smart speakers and connected devices become gatekeepers rather than gateways?
MTM will conduct a special Forum event, exploring the rise and rise of digital audio. We’re delighted to announce that our panel will include: Zuzanna Gierlinska, Head of Automation, Europe at Spotify; Paul Cocks, Product Strategy Lead EMEA at Google; Laurence Miall-d’Août, Chief Commercial Officer at Deezer; Ryan Rummery, Commercial Digital Director, UK at Global; and David Denny, Vice President at Publicis Media.
We are delighted to announce that Google UK will be hosting the event at their Kings Cross offices (details above). The panel discussion will start promptly at 4:00pm, running through to 5:30pm, followed by drinks and networking. Please note that tickets are strictly reserved for MTM clients and senior industry participants. All places will be confirmed in advance by email and there will be strictly no admission for guests without a confirmation email. To request a complimentary ticket to the event, please write to firstname.lastname@example.org.