WPP and iHeartMedia join forces to lure more audio branding business

WPP is hooking up with IHeartMedia on a new partnership aimed at luring more audio business from marketers. The venture, called “Project Listen,” will offer creative consulting and media planning covering multiple platforms, including broadcast radio, digital streaming, podcasts, smart speakers and live events. The two companies, which plan to announce the initiative today at Cannes, want to capitalize on the rising interest in audio advertising. The medium is enjoying a renaissance thanks to the surging popularity of podcasts and digital streaming. “Project Listen is about tapping into the scale of audio and moving from the traditionally transactional radio business to the future of audio advertising where insights and ideas lead the way to growth for brands,” iHeartMedia CEO Bob Pittman said in a statement. Consumers are listening to audio content for an average of 17 hours a week, according to new research from iHeartMedia. Ad spending in the U.S. on podcasts jumped 53 percent last year to $479 million, with podcast revenue projected to grow to $1 billion by 2021, according to a new report from the Interactive Advertising Bureau and consultancy PwC. The most interest is coming from direct-to-consumer retailers, followed by financial services, according to the report. It notes that host-read ads remain the most popular format, accounting for nearly two-thirds of ad spend.The rising spending has created a new battlefield for audio ad and consulting dollars. The... Continue reading at 'Advertising Age'

[ Advertising Age | 2019-06-17 10:00:00 UTC ]
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Time Inc UK’s Marcus Rich: ‘We are a magazine brand business’

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Bookshops and libraries join forces

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Author, Publisher Join Forces to Give Away Cookbook Contract

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Kik joins Facebook in hunt for more publisher, brand deals

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Friendly Takeover: Carlsen and Lappan Join Forces

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Publishers Diversify Their Businesses with Innovative Brand Extensions

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The Thrill of Bringing ‘Business Adventures’ to Audio

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Should Brands Even Be in the Content Business?

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Microsoft joins forces with Barnes

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Busy Busy Busy: Books Urge, Slow Down

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On-Brand, Off-Page: Magazine Brands Aim to Build Social Communities

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