The value proposition of audio has evolved according to Audacy’s Chief Marketing Officer Paul Suchman. In the company’s most recent State of Audio Report titled “Fuel the Funnel,” Audacy, Inc. proffers a view of the consumption experience trifurcated into stages based on awareness, consideration and conversion. Through data provided by Nielsen Media Research, audio catalyzes this experience at the highest rate of success when compared to other media and garners ubiquity and precise messaging.
“People consume audio all day long, and they lean into it really hard and they trust it,” Suchman said in an interview with Radio Ink. “It’s a great medium for advertisers. Even Nielsen reports that people spend 30% of their day consuming audio media versus other media, and we know it’s underspent.”
Over the last decade, audio has precipitously transitioned to become immersed in the digital space, the focus wherein many Gen Z consumers discover and engage with content. Whether it is through laptops, phones, smart speakers or streaming portals accessed through gaming systems, young people are looking to have their content meet them.
As it pertains to sports radio, those listening to the format represent dedicated fans of the aural medium more so than others, according to Audacy, and it is a business in which the company has made a significant investment. The company owns and operates iconic sports audio brands across the United States, including WFAN, WEEI, 97.1 The Ticket, and 670 The Score among others.
“We love sports audio and its fans,” Suchman said. “Listening to audio, particularly when you’re a fan, is just an amazing experience.”
These radio stations operate in local markets; however, their content is available to stream online or through the Audacy mobile app. As a result, radio hosts around the world have the ability to connect to a broad network of consumers, some of whom may have a penchant for localized content despite not living in the same market.
“Sports stations are distillings of community, right?” Suchman asked rhetorically. “On WFAN, our sports station in New York, 50% of our listeners on the stream come from out of state. It’s displaced New Yorkers consuming that content. They want that content and conversations in their home city from voices they know [and] from voices that they trust.”
The company affirms that audio should continue to be broadcast to cars, a reason why it is still a point of emphasis for a company doing things in a variety of more modernized spaces. There are a variety of advertisements played over the air though that prioritize efficiency and reach rather than accentuating the distinctive qualities of the medium to more effectively communicate a message. New Balance, for example, engaged in an advertising campaign specialized for listeners of the sports audio format through podcasts. In the end, the campaign achieved its goals and attained a 342% return on advertising spend.
“This comes back to the whole state of audio: reach; frequency; plus precision,” Suchman said. “When New Balance and their agency wanted to boost awareness and track sales on their basketball sneakers, our sports podcasts reached those younger basketball fans who wanted that performance and they wanted to be very trendy as well.”
Audacy outlines various key performance indicators (KPIs) to determine if the objectives are being reached, some of which include brand awareness, web visitation and app downloads. Through a wide array of measurement tools, the company looks to guide advertisers into allocating funds into audio-based programming with the mission of generating compelling content and an affinity with each individual listener.
“People are coming to audio because they can have long-form, real, deep personal conversations with their listeners,” Suchman said. “So when you have a distribution strategy that allows a Gen Z consumer to get that audio content wherever they are; however they are; whenever, then you have the people they love, trust and listen [to]. It’s an absolute winning combination there.”
