The comms planning team recently attended the Future Of Audio 2023 event, featuring a panel of experts from across the industry.
There were many topics covered across the day, from creative standouts to innovations in digital audio.
However, there were three themes which were the topics of debate throughout the day…
Improving how audiences are measured was voted the top priority by audio industry professionals at the start of the day - but opinions differed on how best to deliver that.
It was largely agreed by all that the need for holistic measurement across audio channels is desired by agencies and clients.
It was cited that measurement on individual channels was sufficient (i.e. across podcasts, linear, digital audio), although they shouldn't be looked at individually - it should be about providing an overview and how they work well together.
There was discussion around who is responsible for delivering this standard measurement for audio, and most people agreed that collaboration across the industry will be key.
The number one thing that will ignite audio on the media plan? @Spotify's @RakPatel_UK talking about the company strategy in response to the key challenges the industry is facing today at #FoAudio. pic.twitter.com/GXYws6s0Us
— Adwanted Events (Formerly Mediatel Events) (@AdwantedEvents) March 1, 2023
Podcasts were also a hot topic of the day. Whilst everyone agreed on the huge benefits and opportunities podcasts offer, a few were concerned around how brands utilise them.
There are fears of a potential clutter issue, especially across sponsored podcasts where a brand could have three host reads in one episode, and anyone listening to more than one episode a day could be bombarded with the same message six or more times.
Brands need to be smart and creative with how they utilise this leaned-in environment, which keeps listeners engaged for longer periods of time. Brands can turn this into a positive, mixing up messaging, making it engaging and interesting.
Last week @AdwantedEvents hosted The Future of Audio Europe - a successful event with over 300 attendees and leaders in the audio industry. On stage @MSIXagency Demi Abiola, @bauermedia Krissie Ford, @OctaveIP Charlie Brookes, moderated by @TheMediaLeader Ella Sagar.#FoAudio pic.twitter.com/JF2L8t7HH0
— Mediatel (@Mediatel_) March 10, 2023
The issue of talent came up from brand clients who were present, and how its unpredictability is a threat to brands.
Whilst brands know the benefits of working with talent across linear, digital and podcast, the lack of control is concerning to them.
Brands see talent as their ambassadors, and therefore need to assess the risks when choosing talent to work with, weighing up the benefits but also the potential risks.
The Future Of Audio event made clear that it is such an exciting time for the medium, an industry that is buzzing, with record revenues and share.
Having said this, the medium still has work to do. It is taking 20% of consumers' daily attention, although only receiving 4-5% of ad spend.
Advancements in measurement will help to improve audio's share of the pot.
Ella Warwick co-wrote this article.