Brightcom Group stock zooms 5% on plans to foray into Digital Audio medium

7 Jan 2022 , 09:51 AM

Brightcom Group has  announced it is all set to foray into US$ 4.2 Bn Digital Audio medium. Digital Audio is the second most popular activity involving about 204 million listeners in US alone.

Digital Audio is the ultimate multitasking media channel where nearly 50% of millennials and GenZ listen to digital content while doing their daily chores. As more users are joining the bandwagon, advertisers are following the users.

No wonder then that YouTube announced a 15-second audio ad unit, and Spotify too has indicated publicly that there is a huge growth opportunity in the conversion of broadcast radio revenue into digital streaming. Online listeners consume audio content through the Internet for about 30 minutes a day on average which is way beyond the average consumption of all other media formats.

The Brightcom has increased its publisher strength from 10000 publisher to 47000 publishers in just two years. Brightcom’s ads.txt is currently implemented on more than 47000 websites. The Direct accounts stands at 89704. The company has a major market share of 4.5% and a reseller account of 10098. These strengths give enough confidence to the company to foray into Digital Audio space. In Digital Audio advertising, for instance, Audio Spots of up to 40 seconds. These are distributed between traditional and online audio spots.

List of various Digital Audio Streams:

AM/FM ONLINE STREAMS
Radio reaches significantly more people weekly than any other medium in the U.S. at 228.5 million adults.

MUSIC STREAMING SERVICES
Over half of the U.S. population reporting listening to music daily. From a global perspective, people are listening to 18 hours of music across different platforms.

PODCASTS
With 2 / 3 rd of podcast consumers tuning in on a mobile device most of them are listening to podcasts while multitasking, give in tremendous opportunities for brands and advertisers. They also have the most loyal listeners with 21% listening to 4- podcasts a week and even more (31%) listening to six or more podcasts a week!

At around 9:50 AM, Brightcom Group was trading at Rs170.65 apiece up by Rs8.1 or 4.98% on Sensex.