Here’s some food for thought courtesy of George Slefo , exploring the close incorporation of audio technologies into our daily lives, the business behind its success (via our favorite streaming sites), and what to expect in the future.
Spotify and other streaming services, give users access to an endless streaming library of music, as well as playlists designed by other users, and branded/themed playlists. Thanks to Spotify, users can curate audio specific to their genre, mood, etc. at the touch of their fingertips.
Although Premium users don’t hear advertisements while they stream, many users still do. Spotify has “157 million global monthly active users, of which 71 million were subscribers who listen ad-free. Last month it projected it 168 million to 171 million global monthly active users in the first quarter, up 28 percent to 31 percent, with 73 million to 76 million paying subscribers.”
“Digital audio is booming: Ad revenue grew 42 percent in the first half of 2017 after generating $1.1 billion in 2016, according to the Interactive Advertising Bureau.” Streaming audio is so prominent in our daily lives and depending on the various devices we use for our music and our Netflix binging, there are now even more opportunities for ads to reach us.
“Some 160 million people stream audio weekly, up from 44 million in 2010, according to Edison Research. Forty-four percent of the U.S. consumers also say they’ve streamed audio in their vehicles at least once. Radio is still ahead, “reaching more than 90 percent of Americans at least once a week, according to the Radio Advertising Bureau.”
Advancements in audio technologies are helping to create a closer relationship to users and advertisements. As advancements in technology continue, it’s safe to say we could become reliant on audio more and more. Businesses will take advantage of reaching everyone who is listening.
Read much more here! http://adage.com/