U.S. ad-tech co launches AdWave Canada

The company, run by U.S.-based AdsWizz, is a digital audio marketplace.

As the Canadian audio streaming space grows, a U.S.-based company is also expanding its buyer-focused product in international markets.

AdWave, a digital audio ad marketplace, is run by San Francisco-based ad tech firm AdsWizz. The company has teamed up with Media Sales Lab, a Toronto-based sales agency, and leanStream, a provider of digital audio streaming services, to grow its Canadian presence. Media Sales Lab will rep AdWave inventory in the Canadian market Canadian buyers of digital audio space, the company also represents leanStream in Canada, which counts Corus Radio among its clients.

AdWave’s algorithm allows buyers to target listeners based on location, the devices they’re on, demographic categories and several other factors.

David Huszar, president of leanStream, says his company is focused on building the market for streaming, which includes not just digital-only streamers but also radio channels with an online presence.

The pure streaming space has been growing in Canada over the last couple of years. Spotify launched here in 2014 and has since then witnessed a growing awareness of its product and its adoption. The audio streamer conducted a survey of over 1,000 GTA residents and discovered that overall awareness of its service was 63%, with younger audiences much more familiar with Spotify. The survey also revealed the free version of Spotify is the largest digital music service in terms of weekly reach with those aged 15 to 65, at 16.8%. In November last year global streamer, Rdio filed for bankruptcy and was bought by Pandora Radio in $75 million cash deal, which shut the service down, a move that likely benefited Spotify. The online streamer is represented by Triton Digital, a U.S.-based audio publisher representative, which also counts CBC Radio, I Heart Radio and ESPN radio among its clients.

In addition to streaming services, traditional radio broadcasters have also been growing their streaming offering for listeners tuning in online.

Given that music, information and audio messaging are no longer the domain of the radio medium alone, David McDonald, VP, director of radio investments at IPG Mediabrands, says it’s important to have other ways to reach listeners of audio programming.

“As smart phone usage increases and they become personal multimedia devices, we have to become as dynamic to reach our targets. This opportunity allows us to extend reach and position audio commercials on that increasingly relevant, personal platform.”