Market Insights Advertising & Media Advertising

Audio Advertising - ASEAN

ASEAN

Ad spending in the Audio Advertising market in ASEAN is forecasted to hit US$932.20m by 2024.
The largest market within ASEAN is Traditional Radio Advertising, with a market volume of US$660.40m in 2024.
When compared globally, the United States will lead in ad spending, reaching US$19,070.00m in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is expected to be US$3.77 in 2024.
In ASEAN, Audio Advertising is leveraging the region's diverse cultural landscape to create targeted and impactful campaigns across multiple platforms.

Key regions: China, Asia, Australia, France, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

The Audio Advertising market in ASEAN is experiencing significant growth and development, driven by changing customer preferences and the increasing popularity of digital platforms.

Customer preferences: Customers in ASEAN are increasingly turning to audio advertising as a way to engage with brands and products. With the rise of streaming services and podcasts, consumers are spending more time listening to audio content, creating new opportunities for advertisers to reach their target audience. Additionally, audio advertising offers a more immersive and personalized experience compared to other forms of advertising, allowing brands to connect with customers on a deeper level.

Trends in the market: One of the key trends in the Audio Advertising market in ASEAN is the shift towards programmatic advertising. Programmatic advertising allows advertisers to target specific audiences and deliver personalized messages in real-time, increasing the effectiveness and efficiency of their campaigns. This trend is driven by advancements in technology and data analytics, which enable advertisers to better understand their audience and deliver relevant content. Another trend in the market is the increasing popularity of podcast advertising. Podcasts have gained significant traction in ASEAN, with a growing number of listeners tuning in to their favorite shows. Advertisers are recognizing the potential of podcast advertising to reach a highly engaged and niche audience. This trend is further supported by the availability of ad insertion technology, which allows for targeted and dynamic ad placements within podcasts.

Local special circumstances: ASEAN is a diverse region with varying levels of internet penetration and digital infrastructure. This presents both opportunities and challenges for the Audio Advertising market. In countries with high internet penetration, such as Singapore and Malaysia, advertisers have a large and engaged audience to target. However, in countries with lower internet penetration, such as Cambodia and Laos, advertisers may need to rely on traditional radio advertising to reach their target audience.

Underlying macroeconomic factors: The growth of the Audio Advertising market in ASEAN is also influenced by underlying macroeconomic factors. ASEAN countries are experiencing rapid economic growth and urbanization, leading to an increase in disposable income and consumer spending. This provides advertisers with a larger pool of potential customers and creates a favorable environment for advertising investments. Furthermore, the ASEAN region is witnessing a digital transformation, with governments and businesses investing in digital infrastructure and connectivity. This is driving the adoption of digital platforms and creating new opportunities for audio advertising. As more people gain access to the internet and digital devices, the reach and effectiveness of audio advertising is expected to continue growing in ASEAN.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on audio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional radio advertising (broadcasting programs on terrestrial radio stations or networks) and digital audio advertising (pre- and in-stream audio ads and podcast streaming ads).

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, web traffic, and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, consumer spending, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.