Market Insights Advertising & Media Advertising

Audio Advertising - Australia

Australia

The Audio Advertising market in Australia is expected to see ad spending reach US$1,053.00m in 2024.
Traditional Radio Advertising leads as the largest market with a market volume of US$878.20m in 2024.
When compared globally, the United States will generate the most ad spending, with US$19,070.00m in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is projected to be US$56.13 in 2024.
Australia's audio advertising market is seeing a surge in programmatic ad buying, revolutionizing how brands reach their target audiences in the digital era.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Audio Advertising market in Australia is experiencing significant growth and development in recent years.

Customer preferences: Customers in Australia are increasingly turning to audio platforms for their entertainment and information needs. With the rise of smartphones and smart speakers, people have easy access to various audio content, including music streaming services, podcasts, and radio programs. This shift in consumer behavior has created a fertile ground for audio advertising, as brands recognize the potential of reaching a captive audience through audio platforms.

Trends in the market: One of the key trends in the Australian audio advertising market is the increasing popularity of podcasts. Podcasts have gained significant traction in recent years, with a wide range of topics and genres catering to different interests. Advertisers are leveraging this trend by incorporating targeted and native advertising within podcasts, allowing them to reach engaged and loyal audiences. Additionally, programmatic audio advertising is on the rise, enabling advertisers to automate the buying and selling of audio ad inventory, making it more efficient and cost-effective.

Local special circumstances: Australia has a unique media landscape, with a strong emphasis on radio broadcasting. Commercial radio stations have a wide reach and loyal listenership, making them an attractive platform for advertisers. The popularity of radio in Australia provides a strong foundation for the growth of audio advertising, as brands can leverage the established audience base and engage with consumers through targeted and creative audio campaigns.

Underlying macroeconomic factors: The Australian economy has been relatively stable in recent years, with steady GDP growth and low unemployment rates. This economic stability provides a conducive environment for businesses to invest in advertising and marketing activities, including audio advertising. Furthermore, the high smartphone penetration rate in Australia, combined with the increasing availability of high-speed internet connectivity, has fueled the growth of audio streaming platforms, creating more opportunities for audio advertising. In conclusion, the Audio Advertising market in Australia is experiencing significant growth and development driven by customer preferences for audio content, the rise of podcasts, and the popularity of radio broadcasting. The local special circumstances, such as the strong radio industry, provide a unique advantage for advertisers in reaching a wide audience. Additionally, the underlying macroeconomic factors, such as stable economic conditions and high smartphone penetration, contribute to the growth of audio advertising in Australia.

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.