According to a survey from Deloitte, streaming music was the most common digital activity on smartphones in 2014. Streams of songs and music videos topped 164 billion during the year, increasing over 50% from 2013.
Guest Post by Jake Rosenberg, Paid Media Manager at Fame House
In addition to the continual evolution of user behavior around streaming mobile music, brands and media companies are starting to take action. According to the CMO Council, mobile music has the greatest share of dollars coming from ads, and will hold that position with advertising dollars making up 79.3% in 2015.
This creates opportunities for both advertisers and publishers alike. On the advertiser side, there are more options than ever to align with mobile streaming music. For example, SoundCloud recently rolled out a variety of ad products, including standard branded banners/audio ads and interstitials to appeal to bigger brands looking to break into the mobile music space.
For music advertisers, there are new ad products that will turn their latest tracks/singles/videos into ads themselves. SoundCloud launched promoted tracks, YouTube offers TrueView for music videos/lyric videos, and newcomer, Feature.fm rolled out their promoted streams product across 8Tracks.
On the other side of the industry, this is an exciting time for music publishers to start increasing advertising revenue. Major brands are spending more and more money within the music space and need an outlet to reach the audience on the go. According to a study by IEG, North American brands were projected to spend $1.34B on music sponsorships in 2014.