Last week we welcomed Global Radio in to Minerva House to discuss some of the latest news in digital audio, including the brand new Global Digital Audio Exchange (DAX). This brand new platform was designed by Global as an easy entry-point for brands to make an impact on the audio media landscape.
Digital music services reach 17 million users a week (31% of the population across every age group and demographic) and show tremendous growth on mobile devices.
However, this engagement hasn’t translated to industry planning across media owners. With mobile spend soaring to £707.1 million in 2014, the focus has been on display, social and video, even while mobile devices have driven the expansion of digital audio content consumption. This trend is only going to continue as technology evolves: we are already looking at the Ford Sync3 car, Apple CarPlay, the rise of the headphone and in-home connected sound system. Yet, audio fails to attract a like-for-like spend.
One of the reasons for this, Global suggests, is that the diversity of the digital audio landscape can be a barrier to entry for brands. They know it’s great but how to access it?
This is where the DAX comes in. Launched in June 2014, DAX made a big noise in digital, music and spoken-word content. Providing an end-to-end solution for marketers looking to enter the digital audio marketplace, DAX does everything from formats, delivery and reporting, standardising the process of getting your ad on a streaming service. The platform appears to have been embraced by the industry with a rapid signup rate, seeking advertising returns on a revenue share basis, Global can boast Absolute Radio, Deezer and BlinkBox amongst the ever-increasing media owners signing up to the platform. On the roadmap is demand-side platform integration, which would enable that vital programmatic offering towards the end of this quarter. The DAX fills a hole in the market and is highly appealing – both as a gateway to digital audio publishers and as a highly emotional, evocative mode of messaging.
You know something is always a good idea when you catch yourself thinking “why has no one done this sooner?”