The Audio Advertising segment is split into two sectors: Traditional Radio Advertising and Digital Audio Advertising.
The category of Traditional Radio Advertising refers to advertising broadcasting on the program service of a terrestrial radio station or network (terrestrial broadcast radio and satellite radio services in the U.S. and Canada). This includes all types of radio advertising spot formats (e.g., classic spots, live reader, content spots, allonge spots). The segment includes direct (local) advertising, in which advertisers reach out to individual stations, as well as indirect (national) advertising, in which advertisers employ media buying agencies to manage their advertising purchases from individual stations.
Online radio advertising is excluded here.
Digital Audio Advertising includes all ad revenue generated through pre- and in-Stream Audio Ads that appear in music (music also includes all kinds of radio services) and podcast streaming services. This includes ad-supported free versions of premium subscription services or services funded by advertising. Formats can be single spots, tandem spots, or popular special advertising formats like presenting, On Air Promotions and Infomercials, directly embedded in the audio file or dynamically inserted.
Banner or Video ads included only in the web player of the streaming service are not in-scope.
