New York – October 26, 2023 – Today, IAB released a follow up to its earlier podcast study, which found that U.S. podcast ad revenues grew at a rate more than double the total digital advertising market overall.

Part two of the study, titled U.S. Podcast Advertising Revenue Study 2023: Drivers, Strategies, and Tactics for Growth, reveals the drivers, strategies, and tactics propelling podcast ad revenues, and shows where the market is heading.

“The growing interest we’re seeing in podcasting among larger, brand awareness advertisers demonstrates the medium’s evolution to deliver on a range of buyer’s KPIs,” said Matt Shapo, Digital Audio and Video Director, Media Center, IAB. “Podcasting continues to be a remarkably agile channel that enables advertisers to reach an expanding user base, adopt new functionalities and solutions, and develop new content with creators.”

Key Findings
The report shows that podcasting can deliver on buyers’ KPIs across the funnel: the majority of podcast advertising is used for brand-building, which encompasses 61% of total ad revenues — up 13% in the last 2 years.

For brand marketers, there’s a lot to like. For example, podcasting usage of brand safety and suitability solutions has nearly doubled since last year, with 69% of publishers using brand safety solutions and 62% using brand suitability solutions, including contextual transcript analysis. As the report also shows, buyers are continuing to expand their range of measurement solutions commonly used with other digital channels for their podcast campaigns.

Another key finding in the IAB study is that dynamic ad insertion (DAI) now represents more than 90% of ad revenues as its share has nearly doubled in the last three years.

“For marketers who need to respond fast to trends and update messaging on the fly — but need a brand-safe and brand-suitable solution — podcasting is a proven winner.” said David Cohen, CEO, IAB. “There’s still real growth ahead.”

Opportunities for Growth
For podcasting to continue this growth, it needs to further develop capabilities to better compete with other digital media channels for buyers’ dollars.

For example, the study shows the industry must continue to invest in creating interconnected networks that offer advertisers both scale and precision. While programmatic has shown significant growth — up 5x from 2021 to 2023 — its share of podcast revenue is still only 11%. For comparison, other digital media channels’ programmatic share is 87%.

Another opportunity for growth is for publishers to rethink their podcast ad inventory and repackage it to help advertisers reach audiences across shows, episodes, and properties. Right now, podcast ad inventory is still primarily show-specific. The kinds of sophisticated, audience-based buys common in other digital media channels only represent 25% of podcast revenues.

Perhaps the most unexpected opportunity for what had been an audio-only channel is video. Users are increasingly consuming podcasts in both audio and video formats, and are leveraging video platforms such as YouTube for podcast discovery and consumption. With video-enabled podcasts representing less than 10% of revenues, there is a major opportunity to engage listeners across environments and expand podcast monetization. The industry needs to create new ad models that align with larger percentages of podcast consumption within video environments.

Shapo concluded, “While there’s significant work ahead for podcasters, there’s more than enough investment from brand marketers to make it worth the effort. Buyers believe in podcasting, and they’re ready to invest more.”

Methodology
Conducted by IAB and PwC, this in-depth quantitative survey of the leading podcast publishers and a series of discussions with industry experts reveals the drivers, strategies, and tactics that are propelling podcast ad revenues, and points to where the market is headed next.

About IAB
The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

About PwC
As business, accounting, and tax advisors to many of the world’s leading technology, media, and telecommunications (TMT) companies, PwC (www.pwc.com/us/tmt) has an insider’s view of trends and developments driving the industry. With approximately 1,200 practitioners serving TMT clients in the United States, PwC is deeply committed to providing clients with industry experience and resources. In recent years, our work in TMT has included helping our clients to develop strategies to leverage digital technology, identifying new sources of financing, and marketplace positioning in industries characterized by consolidation and transformation. Our experience reaches across all geographies and segments, including broadband, wireless, film, television, music, publishing, advertising, gaming, sports, theme parks, computers and networking, software and technology services. With thousands of practitioners around the world, we’re always close at hand to provide deep industry knowledge and resources.

IAB Media Contacts
Brittany Tibaldi / Michael Vaughan
347-487-6794 / 813-210-1706
btibaldi@kcsa.com / mvaughan@kcsa.com

The post Brand-building Now Accounts for 61% of Podcast Advertising, According to IAB’s U.S. Podcast Advertising Revenue Study appeared first on IAB.

New York – May 11, 2023 – Podcasting continues to be one of the fastest growing digital channels, growing two times faster than digital advertising overall, according to IAB’s U.S. Podcast Advertising 2022 Revenue & 2023-2025 Growth Projections study, released on May 11 during IAB’s Podcast Upfront.

The seventh annual IAB U.S. Podcast Advertising Revenue study, prepared for IAB by PricewaterhouseCoopers LLP (“PwC”), quantifies annual podcast advertising revenues generated over the past year, analyzes revenue share by ad category and content genre, and forecasts future revenues through 2025.

Sports, Society & Culture, and Comedy are Now the Top Revenue-Generating Content Genres 

Sports (15%), Society & Culture (14%), and Comedy (14%) are now the top revenue-generating content genres, taking the lead frome News and political opinion content (down from 19% to 12%).

“In-person sports, lifestyle events, and in-store shopping have come back in a big way, taking the lead from news which held the top revenue genre spot since 2018,” said Eric John, Vice President, Media Center, IAB. “Podcasting revenue naturally reflects that shift in consumer behavior and it will be interesting to watch how the balance changes going forward.”

Category Diversification and the Democratization of Podcast Advertising

Podcasting continues to evolve as an ideal medium for niche audiences, attracting advertisers in a wide range of categories including Advocacy, Education, Home Improvement, and beyond. These smaller categories, collectively, are driving 28% of all revenues.

“Both mass and niche advertisers like the audiences, targeting, and ROI along with the brand-safe and suitable environments that podcasting offers,” added John.

The low cost of podcast production has led to an ever-widening array of diverse voices providing authentic content that niche audiences crave.

“It’s clear now that the growth of podcasting was not just a temporary shift in behavior,” said David Cohen, CEO, IAB. “The diversity of voices and content — often targeting underserved audiences — is driving more listenership and more time spent, and that is attracting more advertisers.”

IAB’s Podcast Report Part II to Be Released Later this Year

During IAB’s Audio Leadership Gathering in the fall, IAB will release its 2023 Podcast Report Part II, that will examine the drivers, strategies, and tactics related to 2022 revenues as well as, for the first time ever, reveal insights from the current year’s (2023) performance.

Methodology

A quantitative, online survey was sent to leading podcast industry experts in February to understand 2022 podcast advertising revenues, revenues by industry category and content genre, as well as forecast revenue growth for the next 3 years. As in prior years, this coincided with a podcast advertising market-sizing to deliver an estimate of the market in the United States, inclusive of non-survey participating companies.

About IAB

The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

About PwC

As business, accounting, and tax advisors to many of the world’s leading technology, media, and telecommunications (TMT) companies, PwC (www.pwc.com/us/tmt) has an insider’s view of trends and developments driving the industry. With approximately 1,200 practitioners serving TMT clients in the United States, PwC is deeply committed to providing clients with industry experience and resources. In recent years, our work in TMT has included helping our clients to develop strategies to leverage digital technology, identifying new sources of financing, and marketplace positioning in industries characterized by consolidation and transformation. Our experience reaches across all geographies and segments, including broadband, wireless, film, television, music, publishing, advertising, gaming, sports, theme parks, computers and networking, software and technology services. With thousands of practitioners around the world, we’re always close at hand to provide deep industry knowledge and resources.

IAB Media Contacts
Brittany Tibaldi / Michael Vaughan
347-487-6794 / 813-210-1706
btibaldi@kcsa.com / mvaughan@kcsa.com

The post 2022 Podcasting Ad Revenue Up 26% YoY; Revenues to More than Double by 2025 to $4B According to IAB’s U.S. Podcast Advertising Report appeared first on IAB.

New York – May 3, 2023 – Digital video advertising spend increased 21% in 2022 to $47.1B and is projected to rise an additional 17% to $55.2B in 2023, according to IAB’s “2022 Video Ad Spend & 2023 Outlook: Defining the Next Generation” report.

Released today at the 2023 IAB NewFronts, in conjunction with Standard Media Index (SMI) and Advertiser Perceptions, the report found that while there has been real progress in how the TV/video advertising marketplace is transacted, measured, and defined, a number of key issues still lack consensus.

Premium Content Is Being Redefined

Nearly two-thirds (64%) of TV/video buyers agree that creator-driven video can be considered premium. The largest-spending buyers are even more likely to agree (69%). What’s more, two-in-three buyers (66%) use the same measurement approaches for creator economy video as they do for “Hollywood”-produced video.

“Beauty has always been in the eye of the beholder,” said Eric John, Vice President, Media Center, IAB. “That truism is playing out now in the world of video advertising as we see marketers and brands focusing and optimizing their spend not only in the traditional world of premium content, but also in the diverse, multiplatform world of creator content.”

Buyers Want a Multi-Currency Video Marketplace by 2025

An overwhelming majority (81%) of TV/video buyers say they want two or more unified currencies for impression measurement, and among those, 92% estimate that it will happen in the next two years. Yet the lack of buyer consensus on how to define currency threatens progress. Slightly more than half (52%) want viewable impressions defined by cumulative view-time, while 48% want continuous view-time. The lack of consensus extends to the number of seconds, with 32% wanting three minimum seconds for viewability, 24% wanting five seconds, and 19% wanting four seconds.

“As urgently as buyers want a multi-currency future, there’s no question that changing a market as large as video takes time; however, the clock is ticking,” said David Cohen, CEO, IAB. “To make significant progress, buyers need to come together and align on what they need, and sellers across the diverse video ecosystem need to be part of the conversation. We are optimistic about the conversations currently taking place and will continue to advocate for universal standards, transparency, interoperability, and collaboration across the industry.”

CTV and Social Video Are Must-Buys

With TV/video buyers prioritizing media channels where audiences are addressable, connected TV (CTV) continues to be one of the fastest growing channels in terms of digital video ad spend — up 22% in 2022, and 37% faster than short-form video from web and app-based publishers. Buyers say CTV is a must-buy (65%), as is social video (64%).

Widespread Efforts to Gauge Attention

TV/video buyers are increasingly focusing on attention metrics, with more than nine-in-ten (93%) using at least one method to gauge consumer attention. Half (51%) of buyers are applying biometric attention metrics to their campaigns. The biometric attention metric most utilized is eye-tracking — being used by one-third (34%) of buyers — but other metrics, including thermal scanning, pulse, heart rate, and beyond, are being leveraged.

“Buyers want to know if the audience is paying attention, and they’re making buying decisions accordingly,” added John. “​​Buyers want engaged audiences watching video content of all stripes, including premium and creator-driven video. They want currencies they can trust. That’s where the industry is going — the question now is how fast we will get there.”

IAB’s “2022 Video Ad Spend & 2023 Outlook: Defining the Next Generation” report can be downloaded here.

Methodology

IAB commissioned Advertiser Perceptions and SMI Insights to quantify the size and growth rate of the U.S. digital video advertising spend market and provide a lens into market trends, offering guidance for buyers and sellers on how they can position and differentiate their video initiatives based on where the challenges and opportunities reside. Advertiser Perceptions executed an anonymous online survey among ad agencies and brand marketers who are involved in recommending, specifying, or approving advertising spending in digital video, and spent at least $1M on advertising in 2022. SMI Insights’ digital video ad spend market size and growth rate estimates are based on SMI’s pool of ad billing data, including “forward bookings,” the IAB-commissioned Advertiser Perceptions quantitative survey, interviews with industry leaders, and other market estimates. The SMI Pool’s coverage of the U.S. advertising market is based on deterministic, census-level total media billings for all spending by the largest ad agencies, including all six U.S. major holding groups and most of the largest independents.

About Standard Media Index (SMI)

Standard Media Index (SMI), a Dreamscape company, reports on census-level, complete billing records for placement-level detail of all media transactions in all media types as supplied by the world’s largest media buying groups, as well as leading independents, and organizes that data to create a clear, granular, and easy-to-use database for our clients and agency partners.

Depending on the market, SMI captures between 70% and 95% of all agency spend. By aggregating it, SMI offers detailed ad intelligence across all media types, including television, digital, out-of-home, print, and radio. Depending on the market, data can be broken down by unit cost, media owner, ad type, buy type, advertiser product category, and other dimensions.

Clients use SMI data to determine media mix models, create competitive benchmarks, and gain visibility into pricing level data. The data also allow them to understand marketplace trends on a product category level, evaluate ROI of tent poles and sporting events, and break out ad formats by media type to highlight the effectiveness of different kinds of placements.

SMI’s data supports insights covering 34 countries around the world.

About Advertiser Perceptions

Advertiser Perceptions is the leader in providing research-based strategic market intelligence to the complex and dynamic media, advertising, and ad tech industries. Our curated, proprietary Ad PROS Network and deep relationships with the largest advertisers provide clients with an unbiased view of the market, their brand, and the competition. Our experts provide timely and actionable guidance enabling clients to improve their products and services, strengthen their brands, and drive more revenue. The largest, most innovative global media and ad technology businesses rely on Advertiser Perceptions.

About IAB

The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

IAB Media Contacts
Brittany Tibaldi / Michael Vaughan
347-487-6794 / 813-210-1706
btibaldi@kcsa.com / mvaughan@kcsa.com

The post 2022 U.S. Digital Video Ad Spend Grew Twice as Fast as Digital Media Overall, Projected to Hit $55.2B in 2023, According to IAB’s 2022 Video Ad Spend & 2023 Outlook Report appeared first on IAB.

Between 2021 and 2022, internet advertising revenues grew 10.8% year-over-year (YoY) totaling $209.7 billion and overall revenues increased $20.4 billion YoY. Q1 saw the highest growth of 21.1% followed by Q2 at 11.8%, resulting in ad revenues for the first half of the year surpassing $100 billion for the first time. Revenues slowed in Q3 (8.4%) and Q4 (4.4%).

“After unprecedented growth in 2021, we expected more moderation in 2022.  Economic uncertainty, geo-political unrest, a shifting regulatory environment and addressability changes have all contributed to revenue growing at a slower pace,” said David Cohen, CEO, IAB.  “Looking ahead, there is definitely still growth to be had, but it will be harder to achieve and likely less than we have become accustomed to.”

Internet Advertising Revenue Growth Has Slowed in 2022, Revenues Still Increased YoY 

• Buyers are diversifying their spending; digital video, digital audio, and programmatic are beneficiaries. In 2022, digital video revenues totaled $47.1 billion and 2022 digital audio revenues hit $5.9 billion. Programmatic advertising revenues grew by $10.4 billion, bringing the total number to $109.4 billion, an increase of 10.5% YoY.
• Market share of the top 10 companies has declined.  2022 saw a decrease in the share of ad revenue among the top 10 companies for the first time since 2016, further emphasizing a growing democratization of advertising revenue across the mid-tier and long-tail publishers.
• Social media revenue growth has slowed. While first half revenues of 2022 grew (+$1.8 billion YoY); second half revenues plateaued at $31.4 billion (+$0.3 billion year-over-year).The implementation of Apple’s App Tracking Transparency (ATT) has impacted total revenue.
• Mobile advertising revenues grew 14.1% YoY. Revenues hit a record high of $154.1 billion: the continued increase in consumption of digital audio formats such as podcasts, plus the rollout of 5G and its beneficial impact on VR and AR advertising capabilities, are likely to continue to drive mobile ad revenues in 2023.
• Search revenue grew 7.8%, but overall market share continues to decrease. While search revenue grew 7.8% YoY, its overall market share continues to decrease as buying shifts to digital video and display.

“Advertisers are diversifying their spending to target audiences using fewer identifiable data points,” said Jack Koch, SVP Research and Insights, IAB. “Digital video, digital audio, and the long tail of publishers are benefiting.”

What’s ahead for digital advertising?

Privacy and regulation will change advertising. The importance of privacy by design in the digital industry has never been more clear.  Companies need to adjust to the latest state-level privacy regulations enforced this year in California, Virginia, Colorado, Connecticut, and Utah (and, effective January 1, 2025, Iowa), along with consumers’ worries about their data that resulted in privacy legislation and signal loss. This adaptation has become a catalyst for innovation in the industry, leading to the development of novel solutions that balance data-driven advertising with user privacy.

Evolving channels
The advertising industry is witnessing a shift towards solutions that can leverage their first-party data. This has resulted in the continued growth in connected TV (CTV) and retail media networks (RMNs), as these channels provide advertisers with a way to reach specific audiences with relevant ads at scale.

E-commerce and media companies are also working hand-in-hand to develop new ways to target and measure the effectiveness of advertising, including shoppable ads, affiliate marketing, and direct-to-consumer advertising.

Redefining “premium”
While “premium” content once meant “Hollywood production” value, it’s now more than ever is in the eyes of the beholder. Viewer attention is shifting to content that can match specific interests – regardless of the production value, format, or screen – and creator content is now viewed as premium by many.

“2023 promises to be a challenging year. But this industry, more than most, is galvanized by change,” added Cohen. “The job now is identifying where the areas of growth are going to be, follow the consumer and develop solutions that meet and exceed their needs.”

IAB Internet Advertising Revenue Report: Full Year 2022 can be downloaded here. And please join us for a special webinar April 12 for more insights on the report findings and trends.

Methodology
Commissioned by the IAB and conducted by PwC Advisory Services LLC (“PwC”) on an ongoing basis, with results released quarterly, the “IAB Internet Advertising Revenue Report” was initiated by the Interactive Advertising Bureau (IAB) in 1996. This report uses data and information reported directly to PwC from companies selling advertising on the internet as well as publicly available corporate data. The results reported are considered to be a reasonable measurement of internet/online/mobile advertising revenues because much of the data is compiled directly from information supplied by companies selling advertising online. The report includes data reflecting desktop and mobile online advertising revenues from websites, commercial online services, ad networks and exchanges, mobile devices, and email providers, as well as other companies selling online advertising. The report is conducted independently by PwC, including research by their in-house market research team, on behalf of the IAB. PwC does not audit the information and provides no opinion or other form of assurance with respect to the information. Only aggregate results are published and individual company information is held in strict confidence with PwC. Further details regarding scope and methodology are provided in the appendix of this report.

About IAB
The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

IAB Media Contacts
Brittany Tibaldi / Michael Vaughan
347-487-6794 / 813-210-1706
btibaldi@kcsa.com / mvaughan@kcsa.com

The post Despite Headwinds, Digital Advertising Delivered Double-Digit Growth in 2022 According to the IAB Internet Advertising Revenue Report appeared first on IAB.

NEW YORK – March 15, 2023 – After more than a decade, the Standard Terms & Conditions for internet advertising, first developed in May 2001, updated in 2010 and 2018, will be significantly overhauled.

Launching in April 2023, the leading industry trade bodies will create a joint Task Force to include all stakeholders including advertising agencies, marketers, publishers, and ad tech companies.

“The industry has a legacy of collaboration to ensure that the buy side and sell side align on best practices and standards for an effective digital advertising ecosystem. While there have been updates, it’s time to revisit the approach and ensure we collectively address evolving needs in the marketplace,” said Marla Kaplowitz, President and Chief Executive Officer, 4A’s.

“While the previous work in this area remains the industry standard over a decade later, simply too much has changed for us to not revisit,” said David Cohen, Chief Executive Officer, IAB. “Having worked on previous iterations, I know the road ahead will not be easy, but it is important work that has to be done. We look forward to collaborating across the ecosystem and developing a contractual framework that ensures the vital infrastructure we need to streamline the digital advertising buying process.”

“The scale and complexity of today’s digital media transactions requires an updated foundation of contractual terms and conditions that underpin this large marketplace. We are very supportive of collaboratively revisiting digital terms and conditions to address the needs of today and tomorrow and look forward to participating in the endeavor,” added Bob Liodice, Chief Executive Officer, ANA.

If interested in joining the Terms & Conditions Task Force, please submit your information here.

About 4A’s
The 4A’s was established in 1917 to promote, advance, and defend the interests of our member agencies, employees and the advertising and marketing industries overall. We empower our members to drive commerce, spark connections, and shape culture through infinite creativity. With a focus on advocacy, talent and the value of creativity and technology to drive business growth and cultural change, the organization serves 600+ member agencies across 1,200 offices, which help direct more than 85% of total U.S. advertising spend. The 4A’s includes the 4A’s Benefits division, which insures more than 160,000 employees; the government relations team, who advocate for policies to support the industry; and the 4A’s Foundation, which advocates for and connects multicultural talent to the marketing industry by fostering a culture of curiosity, creativity and craft to fuel a more equitable future for the industry.

About IAB
The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

About ANA
The ANA’s (Association of National Advertisers) mission is to drive growth for marketing professionals, brands and businesses, the industry, and humanity. The ANA serves the marketing needs of 20,000 brands by leveraging the 12-point ANA Growth Agenda, which has been endorsed by the Global CMO Growth Council. The ANA’s membership consists of U.S. and international companies, including client-side marketers, nonprofits, fundraisers, and marketing solutions providers (data science and technology companies, ad agencies, publishers, media companies, suppliers, and vendors). The ANA creates Marketing Growth Champions by serving, educating, and advocating for more than 50,000 industry members that collectively invest more than $400 billion in marketing and advertising annually.

IAB Media Contacts
Brittany Tibaldi / Michael Vaughan
347-487-6794 / 813-210-1706
btibaldi@kcsa.com / mvaughan@kcsa.com  

4A’s Media Contact
Ann Rubin
EVP, Marketing, Communications and Events
914-424-0269
arubin@4As.org 

ANA’s Media Contact
John Wolfe
Director of Communications
914-659-8663
jwolfe@ana.net 

The post Ad Industry Launches Effort to Revise New Standard Terms & Conditions for Digital Advertising appeared first on IAB.

NEW YORK, December 14, 2022 – The Interactive Advertising Bureau (IAB), the digital media and marketing trade association, today announced two new additions to its senior team – Pam Zucker joined IAB as Senior Vice President, Chief Strategy Officer, and Jack Koch joined as Senior Vice President, Research & Insights. In addition, IAB announced the evolution of Chris Bruderle’s role as Vice President, Industry Insights and Content Strategy.

Pam will oversee the evolution of the IAB point of view through the creation of industry guidelines, standards, and marketplace education by protecting and enabling growth for an open, ad-supported digital ecosystem. Pam will be responsible for connecting and building relationships with members across the advertising landscape to elevate IAB as the center of discussion, information, and advice to address the greatest challenges of our industry. Pam will be reporting to Sheryl Goldstein, EVP, Chief Industry Growth Officer, IAB.

Leading into the New Year, IAB is enhancing the Centers of Excellence, Research & Insights programs as well as re-launching the Measurement, Addressability & Data (MAD) Center, previously known as the Programmatic+Data Center. This Center provides essential industry guidance and education on changes in underlying technology and privacy regulations in a constantly evolving ecosystem. Under its new name, the center will provide guidance and education on new addressability and measurement solutions to enable revenue growth, efficiency, and scale, with a focus on retail media networks and Advanced TV.

Additionally, Pam will be responsible for directing the other IAB Centers of Excellence (COE):

• Experience Center which focuses on evolving consumer behavior and emerging technologies (AR, VR, Voice and Games/Esports) to help define the advertising experiences of tomorrow.
• Media Center which creates the thought leadership, advocacy, and forums that make and shape the video and audio marketplace; help improve efficiency, consistency, and relevance in how media companies and marketers engage with audiences across all forms of digital video and audio (including CTV and podcasting).

“As the industry evolves, so must our Centers of Excellence to meet member needs,” said Pam Zucker, SVP, Chief Strategy Officer, IAB. “Once a former IAB member, I have benefited greatly from the research, networking, and reports that these centers provide. Now, as their leader, I am looking forward to ensuring that center participants and IAB members at large receive the tools and guidance they need to navigate changes in technology and responsible data use amid a shifting privacy landscape.”

Joining IAB’s leadership team, Jack is responsible for all research related initiatives and overseeing strategic direction and output of products such as the annual IAB PWC Advertising Spend and Revenue Research. He will continuously identify new research areas for IAB, helping future-proof the digital ecosystem and supporting the COE’s strategic priorities.

In 2023, the IAB Research & Insights team will focus on initiatives including ad spending related to gaming, podcasting, and video, as well as IAB’s coveted “State of Data” report. State of Data will be released during IAB’s Annual Leadership Meeting in January 2023. This report is designed to help the industry prepare and navigate changes in privacy legislation, the deprecation of third-party identifiers, and platform policies affecting data collection, addressability, measurement, and optimization.

After nearly four years at IAB, Chris Bruderle takes on an expanded role as Vice President, Industry Insights and Content Strategy. In his new role, Chris will work closely with the Centers of Excellence and IAB Tech Lab to create industry education for brands, agencies, publishers, and ad tech participants. Chris will help educate the marketplace by leading member education meetings on various research-based discussions.

“At IAB, we’re focused on addressing industry issues most important for driving growth, educating all stakeholders, and mitigating risks by offering high quality solutions and relevant research to the entire advertising ecosystem,” said Sheryl Goldstein, EVP, Chief Industry Growth Officer, IAB. “Pam, Jack, and Chris each bring unique perspectives to the IAB team. With their years of experience and insights, we are excited to feel their impact – bringing our industry together and continuing to create solutions and educate the marketplace in this highly dynamic time.”

About Pam Zucker
With more than 30 years of experience, Pam comes to IAB as a highly regarded industry veteran across digital, programmatic, and traditional platforms. She’s known for her innovative approaches to media and marketing challenges that turn the complex media ecosystem into understandable ideas for both the C-Suite and day-to-day tacticians. Pam spent her first 25 years on the agency side at Publicis Media leading clients such as Procter & Gamble, Microsoft, Activision, Yahoo, and others. During her time at Publicis Media, Pam built new practices for the agency, including Advanced TV and Experience Design. Pam also spent part of her career leading Media for Starcom Mediavest Group in Russia when that market first opened to media in the mid-1990s. Following her work on the agency side, Pam spent five years consulting for media and technology companies (NBCU, Fox, Viacom, Double Verify) helping them design custom programs and market their digital assets for growth. Most recently, Pam has been at Amobee leading their marketing and sales strategy efforts to bring new identity, performance, and new targeting techniques to the DSP and cross channel planning marketplace. Pam received her BA at Carleton College and resides in Hastings on Hudson, NY.

About Jack Koch
Jack joins IAB with more than 20 years of experience at platforms, brands, and agencies leading global research and insights initiatives that foster smarter business decisions. As an enthusiastic data-driven storyteller, Jack’s passion for pushing the boundaries of research and inspiring action through insights is paramount to elevate industry intelligence. Prior to joining IAB, Jack led and scaled global research, insights, and measurement teams at rapidly emerging digital media platforms including Microsoft, EA, LinkedIn, and Spotify. Most recently, Jack was at Reddit, where he established the Marketing Sciences organization responsible for advancing ad measurement capabilities and partnerships, producing research amplifying industry awareness, and understanding of online communities, uncovering contextual insights, and identifying audience trends that tell the world about their world. Jack earned his BSBA and BFA degrees from the Olin School of Business and the Sam Fox School of Design & Visual Arts at Washington University in St. Louis.

About IAB
The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

IAB Media Contacts
Brittany Tibaldi / Michael Vaughan
347-487-6794 / 813-210-1706
btibaldi@kcsa.com / mvaughan@kcsa.com 

The post IAB Hires Industry Veteran Pam Zucker as SVP, Chief Strategy Officer, to Lead IAB’s Thought Leadership Engine Including Centers of Excellence and Research Team appeared first on IAB.

NEW YORK — May 2, 2022 —Digital video advertising spend surged 49% in 2021 and is expected to increase an additional 26% to $49.2B in 2022 according to IAB’s “2021 Video Ad Spend and 2022 Outlook” report.

Released at the 2022 IAB NewFronts, in conjunction with Standard Media Index (SMI) and Advertiser Perceptions, the report found Connected TV (CTV) ad spend increased 57% in 2021 to $15.2B and is expected to grow an additional 39% in 2022 to $21.2B. Between 2020 and 2022, CTV ad spend is projected to more than double (+118%). In fact, three out of four video buyers (76%) label CTV as a ‘must buy’ in their media planning budgets.

“Digital video is a driving force for buyers and will continue to be in 2022,” said Eric John, VP, IAB Media Center. “However while CTV leads the substantial growth of digital video ad spend, the amount of dollars currently allocated to CTV is not proportionate to the amount of viewer time spent with the channel. The time is now for brands and buyers to follow consumer attention.”

Although CTV will account for 36% of total time spent with linear TV and CTV combined in 2022, the amount of dollars currently allocated to CTV is not aligned to this viewership. Only 18% of total video ad dollars are being spent on CTV vs. total video spend, which includes CTV, linear TV, social, and short-form video.

Buyers Cite Many Factors for CTV’s Superiority

When comparing CTV to traditional, linear TV, buyers found data usage, transparency, and no reliance on third-party cookies as distinct advantages:

• CTV enables buyers to leverage many types of data not available within linear TV buys, including first-party brand data (65%), location data (61%), and shopping data (50%).
• Among users of the following KPIs, 57% felt CTV was more effective than linear TV at delivering website/sales actions, and 46% more effective at delivering brand perception.
• Buyers felt CTV provided more transparency into where ads run with 59% of buyers stating it was ‘very clear’ on where their CTV ads ran vs. only 50% and 43% for social video and other digital video, respectively.
• With no reliance on third-party cookies, buyers are turning to CTV as a privacy-safe way to spend ad dollars efficiently and effectively. Nearly three in four (73%) video buyers doing so expect to fund their third-party cookie/MAID deprecation CTV spend increases by reallocating dollars from linear TV.

Challenges Still Remain in CTV

As CTV continues to gain momentum and enable opportunities to better target, reach, and scale, more than a third of video buyers cite multiple challenges in CTV around cross-platform campaign activation, management, and measurement, including:

• Measuring incremental reach across platforms/publishers (48%)
• Managing frequency across platforms/publishers (43%)
• A lack of transparency/interoperability within walled gardens (42%)
• Fragmentation of programmatic supply paths (35%)

To address the challenges of CTV, buyers are preparing for a converged linear TV/CTV market that would ease management of cross-platform and cross-channel video buys. In fact, nearly nine out of ten buyers (88%) anticipate a converged linear TV/CTV marketplace in the coming years, two in three (66%) linear TV/digital video buyers now have a single planning team for the two channels, and another quarter (25%) expect to have one planning team in the future.

“Fragmentation continues to be the achilles heel for buyers,” added John. “From the study, we learned that video buyers most often cite sales lift as their ideal KPI for CTV, but they are not leveraging it due to measurement complexity, sub-par tool functionality, and data lags. As the industry continues to advance and CTV prevails, advertisers are looking toward a converged marketplace that addresses these issues and helps measure the implementation of a variety of creative and targeting tactics.”

“2021 Video Ad Spend and 2022 Outlook” can be downloaded here.

Methodology
IAB commissioned Advertiser Perceptions and SMI Insights to quantify the size and growth rate of the U.S. digital video advertising spend market and provide a lens into market trends, offering guidance for buyers and sellers on how they can position and differentiate their video initiatives based on where the challenges and opportunities reside. Advertiser Perceptions executed an anonymous online survey among ad agency or brand marketers who are involved in recommending, specifying or approving advertising spending in digital video, and spent at least $1M on advertising in 2021. SMI Insights’ digital video ad spend market size and growth rate estimates are based on SMI’s Pool of ad billing data, including “forward bookings”, the IAB-commissioned Advertiser Perceptions quantitative survey, interviews with industry leaders, other market estimates, and expert judgment. The SMI Pool’s coverage of the US advertising market is based on deterministic, census-level total media billings for all spending by the largest ad agencies, including all six US major holding groups and most of the largest independents.

About Standard Media Index (SMI)
SMI reports on census-level, complete billing records for placement-level detail of all media transactions in all media types as supplied by the world’s largest media buying groups, as well as leading independents, and organizes that data to create a clear, granular, and easy-to-use database for our clients and agency partners.
Depending on the market, SMI captures between 70 and 95% of all agency spend. By aggregating it, SMI offers detailed ad intelligence across all media types, including Television, Digital, Out-of-Home, Print, and Radio. Depending on the market, data can be broken down by unit cost, media owner, ad type, buy type, advertiser product category, and other dimensions.
Clients use SMI data to determine media mix models, create competitive benchmarks, and gain visibility into pricing level data. The data also allow them to understand marketplace trends on a product category level, evaluate ROI of tent poles and sporting events, and break out ad formats by media type to highlight the effectiveness of different kinds of placements.
Our data supports insights covering 34 countries around the world.

About Advertiser Perceptions
Advertiser Perceptions is the global leader in research-based business intelligence for the advertising, marketing, and ad technology industries. Our expert staff delivers an unbiased, research-based view of the advertising market with analysis and solutions tailored to our client’s specific KPIs and business objectives. These insights provide our clients with the confidence to make the very best organizational, sales and/or marketing decisions, driving greater revenue and increased client satisfaction.

About IAB
The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

IAB Media Contacts
Kate Tumino / Brittany Tibaldi
212-896-1252 / 347-487-6794
ktumino@kcsa.com / btibaldi@kcsa.com

The post Digital Video Ad Spend Increased 49% in 2021 and Expected to Reach Nearly $50 Billion in 2022, According to IAB’s 2021 Video Ad Spend and 2022 Outlook Report appeared first on IAB.

Held Virtually, IAB Podcast Upfront “Hear and Now” Unlocks the Power of Podcast Advertising to Deliver Great Scale for Brands

NEW YORK — APRIL 14, 2022 — Streaming puts consumers fully in control of everything they see and hear. The 2022 IAB NewFronts and 2022 IAB Podcast Upfront come at a pivotal moment in the evolution of media consumption, with exciting new opportunities for brands, agencies, and media buyers.

More consumers and brands are leaning into streaming video and the 2022 IAB NewFronts aims to demonstrate how rich storytelling can combine with personalized ad experiences to deliver meaningful business outcomes. On May 2-5, 2022, IAB NewFronts will take place at in-person events in NYC and virtually on IAB.com. The event— organized within the unifying theme of “Stream On”—embodies the cultural zeitgeist of consumers’ penchant for digital video content when and how they want it.  The virtual event, hosted by Alex Toussaint, Senior Peloton Instructor, High-Performance Athlete, and Motivational Coach, with Thursday’s co-host Derrell Smith, former NFL athlete turned chef and host of Tastemade’s hit show Mad Good Food, will showcase the best new programming, content, and innovative ways to advertise in video content.

“As the media world continues its rapid digital intensification, the opportunities afforded by ad-supported streaming will invariably become richer and more satisfying for consumers and marketers alike,” said David Cohen, CEO, IAB. “With streaming at the center of everything, we should be both energized by the possibilities and enthusiastic to rethink legacy practices around planning, activation, currency, measurement, creativity, and diversity.”

The 2022 IAB NewFronts brings the industry together to discuss critical issues, including new approaches to measuring and valuing inventory, smart creative that leverages the power of digital, and ensuring investment in content that reflects audience and owner diversity. IAB will release its annual Video Ad Spend report providing industry trends and projections for the digital video market from the buy-side on May 2. On May 4, the IAB Inclusion Institute will present a series of panels and minority owned media presentations aimed at accelerating ad spend and addressing accountability in DEI including within the creator community.

2022 IAB Podcast Upfront

The 2022 IAB Podcast Upfront will take place virtually May 10-12, providing “first-listen” access to the year’s most exciting releases, as well as previews of creative opportunities, and insights that will define the podcast landscape for the year ahead. The Podcast Upfront will highlight collaborations between content creators and their brand partners, and will feature presentations from tech enablers and measurement partners who will share insights around critically important issues. Topics will include audience-based programmatic buying, advanced approaches for campaign measurement, and brand safety and suitability.

Additionally, on May 10, IAB will release its annual Podcast Ad Revenue report highlighting the latest insights into podcast advertising revenues and trends that drove advertising in the space, and projected future revenues. Themed “Hear and Now”, the 2022 IAB Podcast Upfront will be hosted by Actress, Author, and Comedian Franchesca Ramsey.

“Podcast advertising is a billion-dollar industry, but there are still brands who have yet to fully embrace these advertising opportunities. Podcasting dominates the audio marketplace and influences listeners, content creators, and advertisers alike, while also delivering great scale to brands across all vertical categories,” said Eric John, Vice President, Media Center, IAB. “Powered by a unique and intimate relationship between listener and host, podcasting provides a highly engaging and personalized ad-friendly environment that resonates with consumers and helps deliver high ROI for brands.”

*All times are in EST; Speakers and timing are subject to change; For up-to-the-minute agenda, refer to the website.

*All times are in EST; Speakers and timing are subject to change; For up-to-the-minute agenda, refer to the website.

About IAB

The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

IAB Media Contacts
Kate Tumino / Brittany Tibaldi
212-896-1252 / 347-487-6794
ktumino@kcsa.com/ btibaldi@kcsa.com

The post IAB Unveils Agenda for 2022 IAB NewFronts and 2022 IAB Podcast Upfront appeared first on IAB.

NEW YORK — APRIL 12, 2022 — As digital media consumption continues to grow, advertising dollars are following fast. According to the newly released “IAB Internet Advertising Revenue Report: Full Year 2021,” conducted by PwC, all major channels increased significantly compared with a year ago, particularly across digital video (including CTV/OTT), digital audio, social media, and search.

“We fully expected 2021 to be an exceptional year for digital ad growth, but even we were surprised at the degree of acceleration. Not only was every single digital channel up, but some were up more than 50% year on year,” said Libby Morgan, SVP, Chief Strategy Officer, IAB. “This year’s increase is 3x what it was last year.”

The growth is consistent with a recent study by Deighton Associates, commissioned by IAB, which showed the internet economy has grown seven times faster than the U.S. economy over the past four years and now accounts for 12% of the U.S. GDP.

“What’s underneath these numbers is a very clear narrative. We are witnessing the total and complete democratization of access afforded by ad-supported digital channels,” said David Cohen, Chief Executive Officer, IAB. “Increased consumer usage coupled with extraordinary growth of small and mid-sized businesses during the pandemic has fueled growth across all digital — but especially digital audio and video. We expect this digital migration to drive the continued growth of a healthy and competitive digital marketplace driven by innovation and entrepreneurship.”

Streaming media is significantly outpacing the overall industry in growth

Although the industry continues to face uncertainty surrounding privacy regulation, the deprecation of third-party cookies and identifiers, measurement challenges and supply-chain transparency, brands have spoken and digital is where they are putting their dollars:

• Digital video continues to be one of the fastest growing channels, up 50.8% compared to last year, with total revenues of $39.5B.
• Digital audio captured the highest YoY growth, up 57.9% to $4.9B.
• Social media advertising was up 39.3% to $57.7 billion, as consumers continue to engage with Meta platforms, Snapchat, TikTok, and Twitter.
• While search revenue grew substantially (32.8%) in 2021, it did not grow as strong as other areas, leading to a slight decrease in total revenue share (reduction of 0.8 percentage points).

“According to the Census Bureau, 2021 saw the greatest business growth in history with 5.4 million new businesses created,” said Cohen. “Those businesses rely upon the ad-supported internet to attract new customers and provide products and services to the American public. We believe this small business engine will be a key contributor to fuelling ongoing digital media and marketing ecosystem growth.”

What’s next for digital advertising?

Looking ahead to the remainder of 2022, IAB and PwC forecast continued digital ad growth, driven by significant innovation in retail media, CTV/OTT, gaming, and digital audio. The continued rise of AR/VR, the metaverse, and Web3 technologies is expected to spark innovation — and continue to drive ad revenue in the years ahead.

The IAB Internet Advertising Revenue Report: Full Year 2021 can be downloaded here. And please join us for a special webinar today, Tuesday, April 12th from 2:00 PM to 3:00 PM ET for more insights on the report findings and trends.

Methodology 

Commissioned by the IAB and conducted by PwC Advisory Services LLC (“PwC”) on an ongoing basis, with results released quarterly, the “IAB Internet Advertising Revenue Report” was initiated by the Interactive Advertising Bureau (IAB) in 1996. This report uses data and information reported directly to PwC from companies selling advertising on the internet as well as publicly available corporate data. The results reported are considered to be a reasonable measurement of internet/ online/mobile advertising revenues because much of the data is compiled directly from information supplied by companies selling advertising online. The report includes data reflecting desktop and mobile online advertising revenues from websites, commercial online services, ad networks and exchanges, mobile devices, and email providers, as well as other companies selling online advertising. The report is conducted independently by PwC, including research by their in-house market research team, on behalf of the IAB. PwC does not audit the information and provides no opinion or other form of assurance with respect to the information. Only aggregate results are published and individual company information is held in strict confidence with PwC. Further details regarding scope and methodology are provided in the appendix of this report.

About IAB

The Interactive Advertising Bureau empowers the media and marketing industries to thrive in the digital economy. Its membership comprises more than 700 leading media companies, brands, agencies, and the technology firms responsible for selling, delivering, and optimizing digital ad marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, IAB develops technical standards and solutions. IAB is committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., the trade association advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, IAB is headquartered in New York City.

IAB Media Contacts
Kate Tumino / Brittany Tibaldi
212-896-1252 / 347-487-6794
ktumino@kcsa.com/ btibaldi@kcsa.com

The post Digital Advertising Soared 35% to $189 Billion in 2021 According to the IAB Internet Advertising Revenue Report appeared first on IAB.