Audiomack has entered into an exclusive global agreement with AdsWizz, to monetization of their audio inventory. The company which is also popular among many of Afrika's music artists has said that audio buyers will now be able to access Audiomack’s global multicultural content through AdsWizz’s combination of technology and sales offerings.
Audiomack has a global audience of 20 million monthly global users including some that are in Afrika.
“Our enhanced relationship with AdsWizz has not only strengthened our existing salesforce but has enabled buyers to connect with our highly sought-after audiences in more ways than before. Giving advertisers access to our content in targetable and measurable ways matters most. Leveraging AdsWizz technology and media sales services does that for us,” said Dave Edwards, SVP of Revenue, Audiomack.
Alternative income streams
The COVID-19 pandemic dealt a harsh blow to many music artists across Afrika. As a result of the associated lockdowns, many music artists were unable to earn a living as they relied heavily on income from live performances to make a living from their craft.
To this end, many music had to look for alternative income streams with the internet proving to be one of the best viable options. Physical music sales were also down by a third and this was significant considering that they make up a quarter of recorded music revenues globally. Surprisingly was that digital music sales were down by 11%, likely because of a fall in discretionary spending as people experienced a drop in income.
As such, many music artists resorted to brand partnerships for their live streaming activities as well as selling tickets for their live-streamed performances. With Audiomack now set to offer audio advertisements, this presents the audio platform as another potential income stream for Afrika's music artists.
Ongoing audio partnership
Audiomack and AdsWizz have an ongoing. This newly announced agreement expands on Audiomack's current use of AdsWizz' full technology stack which provides Audiomack with a holistic view of ad decisioning, revenue optimization across direct and programmatic sales channels, audio-centric attribution suite, data management, and inventory forecasting. Audiomack is also able to leverage AdsWizz’s motion-activated ad format, ShakeMe, which provides real-time conversion opportunities for advertisers.
"Audiomack is blazing trails for how artists get their content to new audiences. Being able to support its initiatives and connect advertisers with its unique and valuable content and the audience is exciting and powerful,” said Anne Frisbie, SVP Global Partnerships and Business Development, AdsWizz.
— By Tefo Mohapi