Attention Spans are Dwindling 

• In a recent report by Microsoft, researchers found that human attention spans are officially less than that of a goldfish at about 8 seconds long

  • In the year 2000, our attention spans were about 12 seconds

  • On the other hand, our ability to multitask in the digital age has significantly increased

  • What does this mean for advertising? – Keep it simple, short and sweet. Repeating brand names, promo codes, and other key messaging points will be crucial to catching your target audience in the 8 seconds that you have them for

 

Radio is a Safe Ad Space during a Recession

• Overall, the price of media advertising has grown exponentially since the start of the pandemic – with the exception of radio which has maintained the same pricing since 2019

• “Audio has an advantage already because you can reach more people with a very powerful asset. It’s more powerful than an ad banner but it’s not as expensive as a TV ad. So, there’s a sweet spot there.” – Scott Simonelli, founder and CEO of Veritonic

• Beyond being the safest option, radio is also one of the most effective ways to advertise, delivering 70% higher ROI than the average

 

Telling a Story Matters

• Spoken word content (gossip, sportstalk, etc) is becoming increasingly desirable by listeners

  • Over the past 7 years, spoken word’s share of audio has risen by 40%

    • This is +22 million people listening to this content

  • 75% of the population listens to spoken word content, 45% of them listen every day at an average of 2 hrs per day

 

Industry Fun Facts

• Ad spend in travel has jumped $2.1 billion in the first half of 2022

  • This is an 83% increase compared to the same time last year

  • In the second half of 2022, travel plans are expected to spend 27% more than expected on media spend

• Apple is bringing ads into its own first-party apps such as Maps, Podcasts, and Books