Odeeo’s five audio advertising trends to prick ears in 2024

Odeeo, the leading in-game audio advertising platform has today announced the trends that it believes all advertising and marketing executives should be watching as the programmatic audio advertising market evolves in 2024.

With a growing audience of over 3.3 billion gamers across all geographics and demographics, there has never been a more important time for brands to better understand how to reach audiences through new channels in innovative ways, and for publishers to monetize their gaming titles with incremental revenue.

1. Shift to programmatic audio buying – The Interactive Advertising Bureau (IAB) predicted that-programmatic ad buying in podcasts alone was expected to more than double from 4% to 11% of ad spend in 2023. Odeeo expects this trend to continue for a few reasons; major platforms are working to make more of their premium inventory available programmatically, and advertisers are looking to broaden their reach to achieve scale with their audio campaigns.

2. Third party measurement, brand safety and suitability – In 2024 Odeeo expects to see an increased emphasis on third party measurement, brand safety and suitability across audio as advertisers begin to implement new tools to ensure that ads are delivered in environments that are appropriate, relevant and targeted. This will be especially important going into the US election cycle next year and given the rise in politicised content.

3. SMB Audio creativity to be driven by AI – In 2024 Odeeo expects small to medium businesses will be taking advantage of new generative AI tools, making it easy for non-audio advertisers to dip their toe in the water. This combination of AI and self-service programmatic audio could drive a meaningful step-up in audio investment across the digital ecosystem.

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4. Continued studio consolidation – On the game developer side, Odeeo expects to see continued and difficult headwinds into 2024 with further mobile game studio M&A A combination of an increasing cost base including user acquisition, a competitive market and a lack of true technological evolution in mobile devices, will put a lot of studios under pressure.

5. Moving from addressability to attention at scale – Privacy changes such as state regulations in the US, GDPR enforcement and depreciation of third party cookies are all making targeted advertising harder than ever. Odeeo expects to see a shift back to reach/frequency as media becomes less addressable in the cookie-less world. Additionally, the entire advertising industry is evaluating how to adopt attention as a new metric and currency – which bodes well for mobile gaming, a channel that is uniquely positioned to connect audiences with advertisers.

Amit Monheit, CEO and Co-Founder of Odeeo, said: “2023 was a year of evolution, and we expect to see more transformation of the audio and gaming spaces in 2024. Despite global and regional challenges, we were excited to see the amazing adoption of the in-game audio category by both advertisers and gaming studios in the past year. We’re optimistic that 2024 will be a year of continued growth for both gaming and audio..”

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