News UK is buying out Bauer Media’s share of their data-led digital audio advertising proposition after five years as a joint venture.
Octave launched in 2020 with the idea of letting advertisers reach digital radio and catch-up listeners at “exceptional scale” using the two media companies’ first-party data.
The joint venture is coming to an end so that each company can focus on their “respective strategic priorities”, an announcement said, with both planning to reveal “future plans to the market” shortly.
Octave will continue under the sole ownership of News UK, with “no immediate impact” on clients.
News Broadcasting commercial director David Wilcox said the Talksport, Talk (formerly Talkradio), Times Radio and Virgin Radio owner would “fast track the next chapter of Octave growth, delivering superb targeting and return on investment for our clients in the digital audio space – and beyond – across our scale brands”.
Bauer Media Audio UK chief executive Simon Myciunka said: “Octave has been a great success for both Bauer Media and News UK, allowing advertisers and clients an effective way to target audiences through our radio stations and digital platforms, and gather extensive audience insights.
“Having achieved what we set out to do with Octave, we both now recognise the need to take ownership of our own digital audio advertising and so part ways with News UK and Octave later this year in good faith and with continued ambition to innovate and deliver opportunities for advertisers in the growing digital audio space.”
Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog
