Latest news with #InteractiveAdvertisingBureau
Campaign ME
7 days ago
- Business
- Campaign ME
The misunderstood media
When I talk to marketers about podcasting, I notice a recurring pattern of misconceptions. Many see it as a fragmented, niche and somewhat 'less premium' media that operates with minimal regulation. Podcasts are often perceived as a media channel that might feel unsafe for brands. Marketers worry about uncertain return on investment (ROI) and question whether their investment will truly deliver results. These perceptions, I believe, are holding us all back from embracing one of the most promising media formats of our time. Podcasting is the intersection where media meets content, meets creative – all built and designed for audiences. The elephant in the room (and on the page) is that yes, I am of course speaking from a perspective of a podcaster, and I am biased. There is also a but to this. I am also speaking from the perspective of someone who has worked more than 20 years in media, was a former CEO of a top three media agency, managed hundreds of clients, and has overseen billions of dirhams in media investments. I was pushing for digital media investment in 2010 and for e-commerce in 2013. In 2025, I am fighting for podcasting to be the next medium of choice, and I do so from a position of media logic, as well as creator passion. Let's flip the narrative. To audiences, podcasting is a trusted, personalised, on-demand experience – where listeners feel they're in a conversation with a host who 'gets them'. It's a media space built on trust, passion and relevance. It's a space where brands can genuinely connect with engaged audiences who are actively seeking content aligned with their interests. Globally, WARC reports, audio accounts for 31 per cent of media consumption, yet only 8.8 per cent of ad spend is allocated there – an undervaluation by a factor of nearly three. In MENA, this gap is even more pronounced: there are more than 13 million unique listeners in Saudi Arabia alone, with 67 per cent of reachable audiences having access to podcasts, yet less than 1 per cent of digital ad spend is directed toward podcasting platforms. The disparity between audience size and investment in this medium is stark and telling and, frankly, seriously disconcerting. Let's talk media in the MENA versus in the US. According to the Interactive Advertising Bureau (IAB) and PwC's Podcast Advertising Study, podcast advertising revenue in the US was $2bn in 2023. Up from $1.4bn in 2022. To put it in perspective, $2bn is approximately 33 per cent of MENA's total digital spend. The first sensible counter argument to be made is that the audiences are different. The Middle East podcast audience is bigger, at 445 million compared with the US's total audience size of 338 million. A second argument could be that the platforms used to access podcasts are different. However, this is not the case. YouTube, Apple Podcast and Spotify are all available here and in the US and remain the biggest three platforms for podcast consumption. This raises a critical question: Are the listening audiences not the right ones for brands? To me, this is not the case. According to Statista, podcast listeners tend to have higher-than-average incomes and spend approximately 20 per cent more on consumer goods and services. They are a valuable demographic that brands should be eager to reach. And what about results? Are podcasts ineffective for marketing? Far from it. Next Broadcast Media's benchmarks reveal that brands advertising on podcasts experience an average 27 per cent increase in brand interest, a 24 per cent boost in consideration, and a 26 per cent rise in consumer action intent. The same study in the US reports that 80 per cent of US podcast listeners listen to all the ads that come along with an episode, with 70 per cent taking action. These are incredible response rates and, frankly, no other media comes close. With advanced programmatic targeting and brand-safe technology, there's no logical reason for marketers to shy away from this medium. We are at a pivotal moment. The question isn't whether to include podcasting in your media mix – it's how to do so effectively. The biggest takeaway tip is to deploy strategies that support and amplify the voices and faces that audiences love. This ensures your investments are meaningful, long-term and sustainable. The audiences are there. Brand metrics and ROI metrics are better on podcasts than on other channels and supply side platforms (SSPs) and demand side platforms (DSPs) provide the scale. Everything is present except the MENA advertiser. The fight for digital budget and the fight for e-commerce budget now look like a distant memory. The fight for podcasting investment is now upon us, and ironically perfectly linked within the e-commerce and digital ecosystem. How marketers and agencies navigate this medium in the coming months will go a long way to deciding whether brands can deliver relevant, differentiated and integrated propositions that audiences can get behind. Podcasting is my passion. But the other side of me can't help but want to do more to support and protect the future of this incredible but unappreciated and misunderstood media. By Luca Allam, Host of Luca's Insight Track and Creator of MasterPitch – a training platform for public speaking.
Yahoo
20-05-2025
- Business
- Yahoo
IAB Releases General Terms for Digital Advertising Agreements for Public Comment
New Framework Aims to Cut Complexity, Lower Costs, and Speed Deal-Making Across the Digital Ecosystem Public Comment Period Open For 60 Days Until July 21, 2025; IAB Invites Entire Digital Advertising Ecosystem to Participate NEW YORK, May 20, 2025 /PRNewswire/ -- After more than one-year of collaboration with the entire advertising ecosystem – from agencies and brands to publishers and adtech – the Interactive Advertising Bureau (IAB), the digital media and marketing trade association, released its long-awaited updated General Terms for Digital Advertising Agreements, opening a 60-day public comment period through July 21, 2025. "The original terms were created nearly a quarter of a century ago," said Michael Hahn, EVP and General Counsel, IAB and IAB Tech Lab. "This initiative brought together brands, agencies, publishers, ad tech, and legal experts to create something that truly reflects how the digital advertising business operates today — and prepares us for where it's headed next." Helping The Industry Move Faster, Reduce Costs, And Support Innovation Originally created in May 2001, IAB standard terms and conditions (T&Cs) for digital advertising media buys have not kept pace with changes in technology, transaction types, or platform capabilities — forcing teams to renegotiate from scratch and increasing both time and legal burden on all sides. This new, clear, flexible foundation for digital ad transactions means any kind of buy can happen faster and with less friction, whether via direct buy or programmatic. Also, the foundation provides for easy engagement with different vendors that support digital ad transactions, such as measurement providers and ad verification providers. Built by the Industry, for the Industry The updated terms reflect over a year of cross-functional effort led by 276 IAB member companies — including major holding companies like Omnicom and Publicis, as well as independent agencies such as Butler/Till and Canvas Worldwide, brands such as Unilever and Bayer, publishers like Hearst and NBCUniversal, top ad tech firms, and leading law firms. At the update's core is a modular framework designed to support the full range of today's digital transactions. It consists of a standardized foundation for most deal types, making it easier for all sides of the ecosystem to transact efficiently. Business-specific terms — such as cancellation rights or delivery requirements — will be addressed in separate addenda tailored to each transaction type, which are being developed in parallel by IAB's Terms & Conditions Task Force. "This modular structure gives the industry what it's been missing: a balance of consistency and flexibility," said Angelina Eng, VP, Measurement, Addressability & Data Center, IAB. "Once adopted, these terms will help our ecosystem scale more efficiently — with less negotiation, lower legal overhead, and better alignment." "Publishers have been asking for this for years — a standardized framework that reflects how deals are actually done today," said Rob Beeler, Founder & CEO, "This is a big win for the entire industry." Help Shape the Future of Digital Ad Deals "The speed of growth and change in our industry has made way for multiple disconnected frameworks," said Shenan Reed, Global Chief Media Officer, General Motors, and Chair, IAB Board of Directors. "What IAB has done here is give the industry a shared language. That's how we unlock trust, creativity, and speed at scale." "An update to T&Cs is long overdue and I'm glad to see this coming out of IAB," said Christy Loftus, SVP, Data Logistics, Canvas Worldwide. "Standardizing how we approach advertising agreements allows for greater consistency and gives the industry a baseline on the expectations for all sides of media. IAB's involvement in this will help expedite what I'm sure we've all experienced with legal hangups, and allow us to go to market faster, while addressing the numerous complexities of the ecosystem." IAB invites all industry stakeholders to review and comment on the new General Terms by July 21, 2025. Feedback will help shape the final version, which IAB anticipates will become a new foundation for digital advertising agreements across the industry. To review the proposed terms and provide feedback, click here. The comment period is open through July 21, 2025. About IABThe 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 collaboration 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. View original content to download multimedia: SOURCE Interactive Advertising Bureau (IAB)
Axios
29-04-2025
- Business
- Axios
Exclusive: Digital creator jobs jump 7.5x since pandemic
The number of people with full-time equivalent jobs as digital creators in the U.S. has jumped from 200,000 in 2020 to 1.5 million in 2024, according to a new report. Why it matters: Creators are now the largest and fastest growing segment of the 28.4 million internet-dependent jobs in the U.S. By the numbers: The study, which is published every four years by the Interactive Advertising Bureau and written in conjunction with Harvard Business School professor emeritus John Deighton, found creator jobs have grown 7.5x since 2020. Creator media revenue is growing five times the rate of the traditional media sector, the researchers found. The internet-supported economy of $4.9 trillion accounts for 18% of U.S. GDP, up from 2% in 2008, and is the leading driver of GDP growth, according to the report. Zoom out: Creator job growth is driven by new tools and services that have lowered the bar of entry for making and monetizing online content. Newer platforms like Substack and Beehiiv allow individuals to easily launch and monetize their own online publications. Apps like ByteDance's CapCut — and more recently Instagram's Edits — enable creators to more quickly edit and publish videos. How it works: More consumer choice is driving creator job growth, Leora Kornfeld, principal research consultant and co-author of the study, told Axios. "You decide what's good, not hierarchies or intermediaries. We heard about that decades ago with the internet, but now there are actual business cases attached to it," Kornfeld said, noting the abundance of new songs and videos uploaded online every day. More ad dollars are also going to digital platforms, streaming services and online publishers that personalize content recommendations. The big picture: The digital economy has expanded from technical jobs like coding to creative jobs like content creation and service jobs like food delivery — both of which make up the bulk of new internet jobs. Creators building businesses through content and community comprise 30% of digital economy jobs. Individuals on service platforms like Uber, DoorDash, and Airbnb make up 8%, according to the report. Between the lines: The IAB commissions the report in an effort to educate legislators on the growing importance of the digital economy as they create and amend legislation, said Chris Bruderle, vice president of industry insights and content strategy at IAB. "Each of the congressional districts in the United States, from big to small ... has people, a not insignificant amount of people, whose jobs rely on the digital economy," Bruderle said. He said the report also serves to educate the group's members. IAB's membership includes internet giants like Google, Meta and Amazon alongside media companies like Disney, NBCUniversal and Netflix. What we're watching: The growing creator economy has attracted more investment dollars and spurred acquisitions from traditional companies.
