Just released: State of Audio - 11 Moments That Matter

Planners Take Note: Audio Impact Far Ahead of CTV

By Idil Cakim
SVP, Research & Insights Audacy

The signals for consumer demand are strong. People are ready to shop – but discerning about what they buy, based on values and quality1. Advertisers are gearing up to meet consumer demand and push hard in Q4 and beyond. Now is the time to optimize, dig deep into the performance and return of each channel.

The decline in linear TV’s reach has made some advertisers flock to CTV as an alternative. But CTV rates are high and the reach is spotty. Measurement behind walled gardens of every different type of CTV service is not easy. In sharp contrast to CTV, Audio stands as the brands’ choice for the Holidays and thereafter. Broad reach, deep emotional connection with audiences and sound impact on results make Audio a must-buy.  

Audio outperforms CTV whether igniting awareness or driving action. It is more efficient and effective. Its reach is stronger and CPM rates – in OTA, streaming and podcast – yield higher value. Here’s a detailed look at Audio’s performance, in comparison to other media, in auto, entertainment and CPG industries2.

Auto: 

Consider a scenario where we spread $1M equally across Audio, Internet, TV and CTV channels, targeting auto purchase influencers – those who get asked for advice on vehicles and consider themselves to be auto enthusiasts. In this plan, Audio (46%) reaches a considerably higher percentage of auto influencers compared with other media such as TV (27%) or CTV (23%). 

Audio is also the most consistent channel in driving audiences from awareness to trial. Audio drives 44% of auto influencers to trial, while CTV lags at 38%. 

Entertainment: 

Similarly, in a plan where $1M is distributed evenly across Audio, Internet and CTV channels to reach entertainment enthusiasts3, Audio dominates with 74% of the plan’s total reach among the target audience. Meanwhile CTV touches 17%. 

Radio ads are more effective than CTV ads in increasing awareness and consideration in this category. While radio ads increase awareness among 52% of entertainment enthusiasts and drive 42% to consideration, CTV trails behind as it increases awareness among 40% and drives 33% to consideration.  

CPG: 

In a $1M plan targeting frequent and influential CPG shoppers, audio is the stronger channel in a mix of OTA, streaming, podcast, Internet and CTV ads. In a plan as such, Audio connects with 76% of the influential shoppers, while CTV reaches some 18%. 

Across the shopper journey, Audio is most impactful. While Audio drives 45% of shoppers to trial and is responsible for getting more than one-third (38%) to re-purchase, CTV advertising’s effect on these KPIs is much less. 

Takeaway:

As consumers shift their time away from linear TV, advertisers and agencies need to move dollars. But the alternative to one screen is not yet another screen. Brands need a nimble, effective and efficient medium that can seep into every meaningful moment of our daily lives…A high impact, measurable medium that can carry its audience from the first touch point all the way to action. Audio delivers – whether bringing auto intenders into showrooms, driving tune-in for new TV shows or curating a loyal customer base for household products.  

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SOURCES
  1.  Staying Ahead of the Downturn, Dynata, 2022.
  2. Nielsen Commspoint, Influence Insights, Channel Ranker, MRI Simmons, US 2022.
  3. Those who go to the movies at least once a month and are in the top 2 quintiles for total TV viewership.

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