Advertising research and analytics provider, Veritonic, conducted the study, surveying 600 individuals aged 18 and above.
“I see no way out, outside of a financial restructuring."
“We have seen the television evolve from a video-only ‘watching’ device to an internet-connected, multi-media device that delivers audio content as well.”
The company says it is also encouraged by positive signs in its auto business and remains optimistic about future improvements in market conditions.
Lally brings to the table a wealth of experience in the audio advertising industry, having previously served as the Senior VP of Sales at Soundrise.
61% of marketers have identified improving full-funnel media investment as a high or critical priority for the next 12 months.
The move comes amid a growing trend among marketers to utilize sound as a crucial element in their branding strategies.
Audioboom has stated that the results were in line with expectations and remained optimistic due to $52 million of ad sales already booked for 2023.
Murphy's departure follows that of Chris Corcoran, co-founder and Chief Content Officer of Cadence13, who left Audacy two weeks ago.
The new feature, called "market-wide total line reporting," will allow stations to assess their performance relative to other stations in the market.