SiriusXM (SIRI) Embraces Unified ID 2.0 for Audio Advertising
SiriusXM, a subsidiary of SIRI, announced that it has adopted Unified ID 2.0 as a solution for the programmatic audio advertising industry. Pandora Media LLC is a SIRI subsidiary and the first audio publisher in the world to adopt UID2. This decision offers advertisers a privacy-friendly solution for precision targeting, frequency management, and measurement.
The loss of traditional identifiers such as third-party cookies has led to a data hole in programmatic advertising. By adopting UID2, a new alternative identity solution for advertising, SiriusXM Media positions itself as a leader in the industry, ready to face future challenges and deliver on its promise of cookie-less, addressable advertising.
A partnership with AdsWizz Inc. facilitated SiriusXM’s adoption of UID2. The Trade Desk (TTD) is a demand-side platform that is working on creating interoperable standards to support unified cross-screen campaigns using aggregated data provided by publishers and MVPDs.
AdsWizz and Pandora have partnered to provide advertisers with an addressable platform to take advantage of the next generation in identity-based marketing.
Sirius XM Holdings Inc. price and consensus
The Adverting Arena is Increasingly Competitive with SIRI’s UID2 Adoption
UID2 is the latest step in SiriusXM Media’s efforts to empower advertisers with privacy-friendly targeting, planning, and measurement capabilities.
By adopting UID2, SiriusXM Media offers advertisers various options, including programmatic top-of-stack and open and flexible purchasing across different deal types. It also supports an open ecosystem and provides multiple identity solutions, including UID2.
UID2’s adoption is a crucial step in the industry as it grapples with the issues posed by third-party cookie decline and the increasing demand for privacy-compliant solutions. SiriusXM’s early adoption of UID2 places the company at the forefront of the audio advertising industry. It provides advertisers with a scalable, addressable platform that respects consumers’ privacy while delivering precision targeting and measurement abilities.
Sirius XM Media offers various solutions, including cookie-less Predictive audiences, contextual targeting, and UID2, to help advertisers navigate the changing advertising landscape.
Due to increased competition, the shares of this Zacks Rank 3 (Holding) company have fallen 51.6% year-to-date compared to the Zacks consumer discretionary industry’s growth rate of 25.5%. Here is the complete list of today’s Zacks Rank #1 (Strong Buy).
The Zacks Consensus estimate for SIRI 2024 revenue is $8.81M, which represents a decline of 1.63 % year over year. The consensus estimate of earnings per share is 31 cents and has remained unchanged for the past 30 days.
The pressure is increasing on significant players in the audio advertising space, such as Spotify SPOT, iHeartMedia IHRT, and other prominent platforms, to implement similar identity solutions and maintain their competitive advantage.
Spotify is expanding its advertising tech stack. It has acquired Megaphone, an advertising podcast platform, and launched its Spotify Audience Network. This allows advertisers to reach Spotify listeners on a variety of platforms. iHeartMedia, meanwhile, has leveraged its extensive network of radio stations to provide advertisers with a suite of audio advertising options. AdsWizz is one of the leading advertising technology companies partnered with the company to offer measurable and targetable ad campaigns.
SIRI is positioning itself to be a formidable player in this arena by tackling the challenges of measurement and identity head-on in advertising. This could set the stage for more disruption and innovation over the coming years.
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