There’s been a massive change in the way we listen to music. With the number of devices and options available increasing every quarter there’s no doubt this constant evolution will continue.
Competition is hotting up, with Spotify announcing last week it’s added 1m active users in the UK over the last four months.
According to the International Federation of Phonographic Industry (IFPI), Online music services such as Spotify and Rdio have seen large increases in revenue across all of their subscription packages. But the statistic that is of most interest to us is the increase in ad-supported streams from 6% of the market in 2008 to 19% of the market in 2013.
Radio Experts has been working with services like Spotify since their inception in 2006.As the market grows so does the competition and with it the opportunities for advertisers, with pinpoint accurate targeting, coupled with audio adverts alongside display adverts.
We make it our business to keep on top of developments within the online audio advertising market so contact us if you’d like to find out more.