Global has today launched a new business aimed at the digital audio advertising market.
The Digital Audio Exchange (dax) developed by Global creates a brand new advertising platform that gives advertisers a single buying point and includes Bauer Media and Spotify as launch advertising partners.
Mike Gordon, managing director of commercial at Global, said: “This is an incredibly exciting innovation as we are now enabling advertisers to tap into a huge audience they couldn’t previously reach, while creating a new revenue stream for digital audio publishers.
“This market is worth an estimated $1bn in the US. Given the support and collaboration we have already received from both digital audio publishers and advertisers, we are very confident about its potential.”
Here in the UK every week, 10.6 million people stream digital audio and this is growing. Last year alone, 7.4 billion songs were streamed in the UK. This has doubled since 2012, and highlights the overall shift in music consumption from an ownership to an access model.
The market is currently fragmented with more than 71 licensed digital music services, making it challenging for advertisers to access the market at scale. dax is designed to give access to a range of music streaming platforms, digital radio brands and audio social networks in one single buy.
Other launch advertising partners include Vodafone, Lexus, Costa, eBay, Virgin Media, ASDA, Heinz, Philips, Go Compare, EE, Nandos and 20th Century Fox. dax gives these brands access to more than 30 premium digital music platforms including Spotify, Blinkbox, Mixcloud, audioboo, Bauer Media’s Absolute Radio Network, including it’s digital decade brands including Absolute 80s and Absolute Radio 90s as well as Global’s Classic FM, Capital, Capital XTRA and LBC brands.