A new white paper by WARC Advisory and Audacy explores the perceptual barriers driving the gap between audio advertising spend and audio consumption in the U.S.

In-depth interviews were conducted with more than 20 experts across leading brands, agencies, measurement companies and publishers. This white paper challenges long-held assumptions and demonstrates audio’s ability to drive multi-platform, full-funnel impact for advertisers
London / New York, December 3rd 2024 – A new white paper is released by WARC Advisory and multiplatform audio media and entertainment company Audacy today. Breaking down the barriers behind the Audio investment gap takes on a number of misperceptions driving the under-utilization of audio by marketers. In-depth interviews were conducted with 21 experts across leading brands, agencies, measurement companies and publishers in the audio field to better understand the issues from a 360 degree perspective.

Ray Borelli, SVP, Research & Insights, Audacy, comments, “There are more options available to marketers in audio than ever before, and we see time and again the positive results that come when brands increase their audio spend. However, investment in audio is being constrained for some by a series of perceptual barriers. This white paper aims to dispel those misperceptions and highlight the opportunities that are in front of marketers who embrace audio advertising.”

Paul Stringer, Managing Editor, Research & Advisory, WARC, adds: “Now – thanks to an explosion in audio listenership – there is a growing volume of evidence to suggest that audio drives a big impact in terms of attention, brand lift and key business KPIs. Yet a gap remains between investment and consumption. We’ve touched on this gap before in previous WARC research. But this paper goes one step further to understand precisely why audio is lagging behind other channels in terms of investment. After reading this paper, I hope advertisers and agencies feel more inspired and more confident about giving audio the attention and investment it deserves.”

“Breaking Down the Barriers Behind the Audio Investment Gap” spotlights the central role Audio plays in the lives of many Americans. Driven by growth in streaming and podcasts, time spent with Audio is growing significantly faster than media consumption overall.

Edison Research shows that average daily Audio consumption is 220 minutes: one-third of the total. This increase is evident across all age groups. Audiences aged 55 – 64 now spend 39% more time with Audio than they did in 2020; for those aged 16 – 24 the daily consumption has risen by 21%.

The medium’s challenge, however, is that it is realizing just 8.4% of advertiser spend, per WARC Media data. The findings show that spending would need to increase nearly threefold to match its share of ad-supported consumption.

This latest research uncovers myths that may lead to lack of investment in Audio.

Audio delivers high levels of reach, attention, targetability and full-funnel impact

Despite the misconception that Audio does not deliver campaign KPIs and is highly fragmented, evidence shows the medium delivers attributes that brands need most:

Unparalleled reach: In the USA, Audio’s total daily reach is 96%. Broadcast radio alone reaches 84% and 34% of Americans listen to at least one podcast a week.
High levels of attention: Podcast ads register 10,630 attentive seconds per thousand impressions (APMs) compared to TV at 4,430 APMs.
Strong targetability: Audio buys are now based on consumer interests, behaviors and contextually relevant moments.
Positive impact across every stage of the path-to-purchase journey: Recent research by Radiocentre found that allocating budget to the channel enhances overall campaign performance by boosting organic search volumes, increasing paid search impressions with improved conversion and uplifting response to paid social ads. Nielsen states that Audio consistently ranks as a top-tier medium for ROI.

Audio leverages comms opportunities through trust, engagement, culture and community

Given its unique characteristics, Audio is felt to be particularly difficult to integrate into the mix. This is exacerbated by a widespread belief that visual assets are essential to effective communication, but evidence shows that the channel is highly trusted.

Including radio in a campaign significantly increases brand trust according to System1 and Radiocentre in the UK; it enables brands to penetrate local communities and cultures – sports radio listeners are 3x more likely to search for a sponsor’s brand and 4x more likely to purchase its product or service than non-listeners; it is a media multiplier when working alongside other platforms; and creates new opportunities for integration – through display banners and videos and ‘podfluencers.’

Advances in Audio measurement & optimization

In an increasingly data-driven market, there are concerns about measuring Audio’s effectiveness. However, Audio measurement is evolving and effective tools now exist to track conversion, enabling brands to optimize campaigns mid-flight.

By combining pixel-tracking with systems from companies like Claritas, Veritone and ArtsAI, brands can now match audio ad exposure to online and in-store conversion. Additionally, brands are able to evaluate share of search, but care needs to be taken with attribution and marketing mix models (MMM); unless properly calibrated, they often fail to pick up Audio’s full impact.
 



 

The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025

AMSTERDAM, The Netherlands, December 3, 2024/APO Group/ —

• Creation of Interim Executive Committee to be chaired by John Elkann
• New CEO will be appointed in the first half of 2025
• Full year 2024 financial guidance confirmed

Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO

Stellantis N.V. (“Stellantis” or “the Company”) (www.Stellantis.com) announces that the Company’s Board of Directors, under the Chairmanship of John Elkann, accepted Carlos Tavares’ resignation from his role as Chief Executive Officer with immediate effect.

The process to appoint the new permanent Chief Executive Officer is well under way, managed by a Special Committee of the Board, and will be concluded within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established.

Stellantis confirms the guidance it presented to the financial community on October 31, 2024, in respect of its full year 2024 results.

Stellantis’ Senior Independent Director, Henri de Castries, commented: “Stellantis’ success since its creation has been rooted in a perfect alignment between the reference shareholders, the Board and the CEO. However, in recent weeks different views have emerged which have resulted in the Board and the CEO coming to today’s decision.”

Chairman John Elkann said: “Our thanks go to Carlos for his years of dedicated service and the role he has played in the creation of Stellantis, in addition to the previous turnarounds of PSA and Opel, setting us on the path to becoming a global leader in our industry. I look forward to working with our new Interim Executive Committee, supported by all our Stellantis colleagues, as we complete the process of appointing our new CEO. Together we will ensure the continued deployment of the Company’s strategy in the long-term interests of Stellantis and all of its stakeholders.” 

Distributed by APO Group on behalf of Stellantis.

IFLR1000 is an internationally esteemed guide that ranks leading lawyers and firms based on their expertise and impact across practice areas

WINDHOEK, Namibia, December 3, 2024/APO Group/ — 

Shakwa Nyambe, the Managing Partner of SNC Incorporated (www.SNCLawGroup.com), has been recognised as a Highly Regarded Lawyer for Oil and Gas in Namibia by the IFRL1000 rankings of 2024. He is specifically recognised for his exceptional work in the practice area of Projects: Energy, with a focus on the Oil and Gas industry, further cementing his reputation as a world-renowned Energy, Oil and Gas, Natural Resource and Commercial Lawyer.

IFLR1000 is an internationally esteemed guide that ranks leading lawyers and firms based on their expertise and impact across practice areas. Being ranked as a Leading Lawyer for Oil and Gas by this global institution places Shakwa among the most influential individuals in Namibia’s Oil and Gas sector and highlights his invaluable contributions to the field.

Shakwa Nyambe’s recognition is a reflection of his understanding of the complexities of the Oil and Gas industry and his ability to provide innovative solutions to clients navigating the challenges of this sector. As the Managing Partner of SNC Incorporated, a full-service energy, natural resources, corporate & commercial law and dispute resolution law firm, Shakwa has built a legacy of excellence in the legal and commercial sectors. His experience encompasses, advising international corporations, state-owned enterprises, governments, and individuals in oil & gas, renewable energy, and mining projects, and provision of legal services in matters ranging from mergers and acquisitions, commercial transactions, and corporate governance to project financing as well as rendering advisory services on general commercial matters.

To be acknowledged as a Highly Regarded Lawyer by IFLR1000 in Namibia for my work in Energy and Oil & Gas is a profound honour

Shakwa is the President-Elect of the Association of International Energy Negotiators (AIEN) for the period 2024 – 2025 and will take over the Presidency for the period 2025 – 2026. His qualifications include, amongst others, a Master of Laws (LLM) in Oil and Gas Law with Professional Skills from the University of Aberdeen in the United Kingdom, a Postgraduate Diploma in Drafting and Interpretation of Contracts from the University of Johannesburg and an Executive Diploma in Global Business (Master’s Level) from the Saïd Business School, University of Oxford.

His expertise and strategic guidance have made him the go-to advisor for international oil companies, energy companies, mining companies. multinational corporations and local entities engaged in Namibia’s energy development.

This acknowledgment comes at a critical moment for Namibia, as the country is emerging as a significant player in the global energy market, driven by transformative discoveries in the Orange Basin by major international companies. Shakwa’s legal and strategic leadership has been instrumental in helping stakeholders capitalize on these opportunities while ensuring compliance with Namibia’s regulatory landscape.

Commenting on the rankings, Shakwa Nyambe stated, “To be acknowledged as a Highly Regarded Lawyer by IFLR1000 in Namibia for my work in Energy and Oil & Gas is a profound honour. It reflects not just my efforts but the dedication of the team at SNC Incorporated and the trust of our clients. This motivates me to continue raising the bar for legal and business excellence in Namibia’s oil and gas sector.”

As a globally recognized thought leader, he frequently engages in high-level dialogues on energy, corporate and resource law, sharing insights that shape policy and practice in Namibia and internationally.

As Namibia continues its rise as a frontier oil and gas producer, Shakwa Nyambe exemplifies excellence, driving the sector forward with vision, expertise and an unwavering commitment to his clients.

Distributed by APO Group on behalf of SNC Incorporated.