Presented by Curt Hokanson, Head of Media

1. Online Audio
05.30.19
Curt Hokanson

2. Curt Hokanson
Head of Media at Visible
@CurtHokanson

3. What is
Visible?
Visible is the first all digital
wireless phone service carrier
in the U.S.

4. What does
that mean?
No stores, no contracts, no fine
prints, and no hidden fees.
We have a cloud based
network that enables us to
design and release services
and products much faster than
traditional models.

5. How much
does it cost?
$40/month (all in), we offer
unlimited data, messages,
minutes, and hotspot, on
America’s best 4G LTE
network.
Backed by
visible.com

6. Visible Overview

7. streaming (verb): delivering content, usually audio or
video, to computers and mobile devices using the
Internet. When streaming music, you listen to songs in
"real time" instead of downloading and storing the file to
a device to listen later.
“History of Music Streaming.” Sutori, www.sutori.com/story/history-of-music-
streaming--zqSr2qQSuWhuDsXbmAUxfi6Y.

8. Streaming Music
Overview
8

9. Digital Audio

10. Digital Audio Adoption Is Steadily Rising
180.8
189.3
195.6
200.9
204.8
208.7
211.3
213.9
216.2
5 3 .0 %
5 6 .3 %
5 8 .6 %
6 0 .1 %
6 1 .3 %
6 2 .0 %
6 2 .7 % 6 3 .1 % 6 3 .4 % 6 3 .7 %
50%
55%
60%
65%
70%
75%
80%
85%
90%
95%
100%
180
190
200
210
220
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Digital Audio Listeners
Digital audio listeners (millions) % of population

11. Mobile Device Heavy

12. Audio Streaming Dominates Mobile Consumption
0 10 20 30 40 50 60 70 80
2020
2019
2018
Minutes
Average Time Spent per Day with Mobile Apps
(by Adult Mobile App Users)
Audio Streaming Social Media Video Gaming Messaging Other
Source: eMarketer

13. Funnel
Dynamics
• Long-Form Content
• Programmatic Targeting
• Sequential Messaging
• High Impact Takeovers

14. FREQUENCY

15. Podcasting
Overview
15

16. 16
Podcasting Is Trending Up
Sources: Edison Research, Medium, Forbes, IAB
42
48
59
68
73
90
32.0
42.0
52.0
62.0
72.0
82.0
92.0
102.0
2014 2015 2016 2017 2018* 2019*
(millions)
Number of monthly listeners
23
28
37
42
48
62
13.0
23.0
33.0
43.0
53.0
63.0
73.0
2014 2015 2016 2017 2018* 2019*
(millions)
Number of weekly listeners
On-Demand Audio Smart Speakers Connected Cars

17. 17
The Podcasting Landscape
Where They’re Listening
51%
19%
5%
24%
1%
Other
0 50 100 150 200
Global Downloads and
Streams (in millions)
Who They’re Listening To
Sources: Statista, Anchor, Forbes
In June 2018, Google launched their own dedicated podcast server, seeking to bridge the listenership gap between iOS and
Android, and to effectively double global podcast listenership. In 2018, despite Android’s 50% cell phone marketshare
against iOS’ 48%, Android only accounted for 43% of podcast streaming while iOS accounted for 54%. In May 2019,
Google announced podcasts would now show up as a result to search queries.
Luminary intends to be the disruptor of the podcast industry (i.e. Netflix), with a lineup of exclusive, original shows ad-free
for $8/month, as well as access to stream all other podcasts. The servicelaunched in late-April and faced controversy due
to how it pulls in third-party podcasts, which resulted in several top publishers pulling their inventory from the service.

18. 18
Why Podcasting?
Sources: Wall Street Journal, Edison Research
Reach 60MM Paid
Audio Subscribers
These listeners are extremely hard to
reach with audio streaming ads, but
podcasting provides a potential
solution – even within paid platforms
like Spotify and Pandora.
50% 81%of listeners trust audio ads more if
they hear them during a podcast.
of listeners have taken action in
response to podcastadvertisements.

19. Buying Podcasts
19

20. 20
Historical Limitations
Reliant on Direct
Response Attribution
Unlike typicaldigitally-served ads,
podcasts aren’tclickable and only
provide an IP Address and user agent
to the publisher when downloaded.
This had led advertisers down the path
of promo codes and vanity URLs to
measure a podcastadvertisement’s
success.
No Ad Delivery
Verification
The separation between podcast
publishers and streaming platforms,
playback metrics are unavailable,
makes it impossible to verify that your
ad was delivered. As a result, podcast
buys are billed off downloads, which
the industry has had difficulty
measuring accurately.
Untargeted,
Baked-In Ads
Podcastadvertisements have
traditionally been “baked-in”
advertisements, similar to linear
television, with no ability to limit
waste.

21. 21
Audio Ad Types
Sources: Nielsen
Host-read ads*
Read by the host to run
exclusively in that programming.
• Can be dynamically inserted
across allpast inventory of
ONE show
• 2x less likely to be perceived
as forced
• 2x more likely to be trusted by
listeners
1.
Producer-read ads
Read by a voice other than the
host’s but produced by the
network or show in which it will
run.
• Can be dynamically inserted
across allpast inventory of
various shows, allowing for
significant scale.
2.
Recorded ads
Produced by a creative agency
with the intention to run across
multiple types of digital audio.
• Pre-recorded in standard
lengths of time (:15, :30, :60)
and can only be dynamically
inserted into podcasts.
3.
(in order of efficacy)

22. 22
Buying Formats
Sources:
“Baked-In”
Dynamically-Inserted
Baked-In Host-
Read Ads
Dynamically-
Inserted Host-
Read Ads*
Seamless Host-
Read Ads a a
DCM Impression
Tracking a
Creative Review
Process a
Ability to Target
Based on
Geography
a
Ability to Target
Based on
Demographics
a
Ads that are permanently integrated
into a podcast.
Ads that are placed within a podcast
upon download.

23. 23
New Measurement Capabilities
Overview
DCM rolled out podcast download verification in
February 2019.
Capabilities
• Certified publishers can append 1x1 impression tags
to dynamically-inserted ads.
• These 1x1s are pinged each time a podcast with the
ad is downloaded, and attributes the download to the
corresponding showand creative.
Limitations
• Verification is limited to downloads – cannot verify ad
impressions
• Only available with dynamically-inserted ads
• Publisher’s must be DCM podcast-certified
Overview
Barometric is a cross-device media measurementand attribution solution,
with data on 120mm US households and 900mmUS devices.
Capabilities
• Barometric’s pixel is appended to a podcast ad to ingest the IP address
and user agent of devices downloading it.
• Their pixel is also setup across the advertiser’s site to collect visitor data.
• Barometric’s brings these two data sets together on their cross-device
graph to attribute site traffic and conversions to podcasts.
Limitations
• 40-60% match rate
• IP Address only exists when the podcast is downloaded on Wi-Fi (85%of
podcasts are downloaded on Wi-Fi)
• Publishers must be Barometric compatible

24. Thank you