Audio Story of the Week
Podcast ad revenue bounces back! After a sluggish 5% growth in 2023, the Interactive Advertising Bureau forecasts a rebound to double-digit growth, predicting a 12% rise to surpass $2 billion this year. Innovations like live events and video podcasting, coupled with the unique podcaster-audience rapport, are driving growth. With diverse sectors boosting their stakes, podcast ads remain a lucrative niche, expected to hit $2.6 billion by 2026.
Social Media Story of the Week
Reddit is shaking things up with its latest advertising feature, Dynamic Product Ads. Their new tool targets shoppers right when they’re most curious, displaying products in related subreddits where potential buyers are actively chatting or seeking out new finds. These ads are anything but static—they refresh automatically with the latest product images and prices to stay relevant. Plus, they’re savvy enough to bring back previous visitors with retargeting options. Fuelled by a major spike in product-focused search queries on the site, it’s all part of Reddit’s big move to capitalise on its booming role in consumer research.
TV Story of the Week
ITV's streaming service, ITVX, is making waves in 2024, boasting a 16% surge in streaming hours and a sparkling 14% jump in digital ad revenue in the first quarter. Outshining its studio arm—which grappled with strikes and a 16% revenue drop—ITVX is stealing the show. The broadcaster is ramping up the excitement with an extra £15m marketing blitz to keep the momentum going, especially with the Euros on the horizon. Despite a 7% slide in total revenue, ITV is geared up for a stellar year ahead.
