Commercial Radio & Audio (CRA) has used its annual audio showcase event HEARD to announce the launch of a unified digital audio ID.

The CRA Audio ID will simplify the way marketers buy digital audio with inventory from local broadcasters ARN, Nine, Nova and Southern Cross Austereo.

The unified digital audio ID will enable additional capabilities alongside CRA members’ existing programmatic offerings and is designed to deliver cross network campaign optimization through improved management of reach and frequency and enhanced targeting capabilities enabling marketers to achieve greater scale and enhanced efficiency in their digital audio strategy.

Speaking at HEARD, CRA, CEO Lizzie Young, noted the explosive growth in audio and said the announcement was another sign of the medium’s focus on digital transformation and making the medium easy to access for brands.

“We are in the midst of a digital audio boom across the Australian market,” said Lizzie Young, CEO of CRA. “We have our highest audiences in the last twenty years, the shift to digital consumption continues to grow as a portion of the overall audience but our revenue is yet to match our audience.”

“According to the latest Infinite Dial resect five times more Australians are listening to radio than ad-supported Spotify yet we know we underperform in the total addressable digital audio ad market.”

“This unified digital audio ID will make it easier for advertisers to achieve a more seamless buy, unlock better targeting and superior campaign results across Australia’s local and biggest ad supported audio players.”

The CRA Audio ID will launch in June with streaming audio, podcasting will follow along with additional data partnerships.

Young noted CRA’s strategy was to develop solutions which leverage world class technology to make audio say to buy as a key driver in developing the new unified digital audio ID solution along with considerations around privacy.

“We believe the launch of the CRA Audio ID is an important milestone in our digital transformation. It will enable better outcomes for marketers and sets a course for audios future as an effective and easy to buy medium.”

Partnering with GfK has also ensured seamless integration with their Radio 360 audience measurement system and provides the foundation for the industry to leverage new technology capabilities to improve the way audio is traded for the benefit of brands and customers.

Commercial Radio & Audio (CRA) has welcomed figures that show podcast and streaming audio advertising expenditure increased 23.6% year on year in FY24, to $290 million.

Total online audio advertising is the fastest growing display category, according to the Australian Internet Advertising Revenue Report (IARR), compiled by PwC and released by IAB Australia.

The report also shows strong quarterly growth, with the total of $78.9 million for the June Quarter 2024, surpassing the December Quarter 2023 peak of $77.8 million.

Lizzie Young, CRA Chief Executive Officer, said the results were particularly pleasing off the back of GK Survey 5 data which showed commercial radio share had reached its highest level since 2014.

“Commercial radio continues to grow its audiences, and one of the reasons is audio is everywhere — whether listeners are turning in to broadcast radio, DAB, or a podcast, audio is in their cars, at home, and with them via their phone,” said Ms Young.

“The FY24 results from IAB are incredibly strong, with total online audio ad spending up 23.6% on FY23, making it the fastest growing display category.

“Advertisers are increasingly investing in online audio because it delivers both audience trust and accessibility.”

The total Australian online audio advertising market in FY24 was $290 million ($185 million streaming and $105 million podcast), representing 4.7% of total general display ad spending for the year.

“The IARR report also shows expenditure on podcast advertising increased by a massive 32% in the June Quarter compared to the March Quarter,” said Ms Young.

“We expect to see more advertisers investing in podcasts, as their popularity continues to increase, as we saw in our first Australian Podcast Bi-Annual Report, released last week.”

The report showed average monthly podcast listeners up increased almost 9% in the first half of 2024 compared to last year.