Amazon's Audible picks Wavemaker for $500 million paid media business

Audible, the Amazon-owned podcasting platform, picked Wavemaker to lead its $500 million paid media strategy and is adjusting its marketing plans as it tries to position itself in the audio landscape against rivals like Spotify. Audible launched its agency review in December, and GroupM's Wavemaker was named the “agency of record for paid media worldwide,” according to an announcement today from both companies. “Wavemaker’s energized approach to media will help Audible reach many more potential customers around the world and their global background will bring a nuanced, individualized approach to each marketplace in which we offer our service,” Cynthia Chu, Audible’s chief financial officer, said in the announcement. Don’t miss the latest news. Sign up for Ad Age newsletters here. Audible had been working with a number of agency partners around the world to spend its media dollars. Publicis’ Spark Foundry handled spending in the U.S., for instance. Consulting firm ID Comms worked with Audible on the agency review. Audible was not immediately available for further comment. But the new strategy consolidates global ad spending in one place, under Wavemaker. Audible is a sizable piece of Amazon’s broader audio portfolio, and it competes with Spotify, Apple, Google and others in podcasts. Audible is also known for original programming and audiobooks. A person familiar with the agency review said that Audible spends about $500 million on advertising a year. “Audible has to get ready to take on Spotify,” said the person, who spoke on condition of anonymity. “This wholesale marketing rethink is part of readying for the future.” Toby Jenner, global CEO at Wavemaker, said the agency would use data and technology to guide Audible’s paid media strategy, which suggests the focus is on programmatic advertising online. Wavemaker counts Mondelēz, L’Oreal, ViacomCBS, Coinbase and DoorDash among its clients. Enter Ad Age's 40 Under 40 at AdAge.com/40u40.

Amazon's Audible picks Wavemaker for $500 million paid media business

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