Brightcom Group set to foray into digital audio medium

Brightcom Group Limited is all set to foray into USD 4.2 billion digital audio medium. Digital audio is the second most popular activity involving about 204 million listeners in the US alone. 

Digital audio is the ultimate multitasking media channel, where nearly 50 per cent 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. 

YouTube announced a 15-second audio ad unit in this regard 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. 

Brightcom has increased its publisher strength from 10,000 publishers to 47,000 publishers in just two years. It has a major market share of 4.5 per cent and a reseller account of 10,098. These strengths give enough confidence to the company to foray into the digital audio space. 

Brightcom Group is a leading global provider of comprehensive online or digital marketing services to direct marketers, brand advertisers as well as marketing agencies. 

At the time of market close on Friday, the stock of Brightcom Group Ltd was trading at Rs 8.59, down by 2.94 per cent on BSE.