Audio Advertising - Baltics | Statista Market Forecast

Ad spending in the Audio Advertising market in Baltics is forecasted to reach US$27.60m in 2024.
The largest market in Baltics is Traditional Radio Advertising with a market volume of US$21.76m in 2024.
When compared globally, the United States will lead in ad spending, reaching US$19.07bn in 2024.
The average ad spending per listener in the Traditional Radio Advertising market in Baltics is expected to be US$5.93 in 2024.
In the Baltics, Audio Advertising is rapidly growing as companies leverage the region's tech-savvy population for targeted marketing campaigns.

Definition:
Audio Advertising refers to advertising via traditional radio and digital audio. The category of Traditional Radio Advertising refers to advertising on the program service of a terrestrial radio station or network (terrestrial radio broadcasting and satellite radio services in the U.S. and Canada). Digital Audio Advertising includes all ad revenue generated through pre- and in-stream audio ads that appear in music (music also includes all kinds of radio services) and podcast streaming services

Structure:

Traditional Radio Advertising includes all types of spot formats of traditional radio advertising (e.g., classic spots, live reader, content spots, allonge). It also includes direct (local) advertising, in which advertisers reach out to individual stations, and indirect (national) advertising, in which advertisers employ media buying agencies to manage their advertising purchases from individual stations.
Digital Audio Advertising includes ad-supported free versions of premium subscription services or services funded by advertising. Formats can be single spots, tandem spots, or popular special advertising formats such as presenting, on-air promotions, and infomercials, directly embedded in the audio file or dynamically inserted.

Additional information:
Audio Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions of Traditional Radio Advertising and Digital Audio Advertising can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Traditional Radio Advertising broadcasting on the program service of a terrestrial radio station or network
Digital Audio Advertising through pre- and in-Stream Audio Ads that appear in music and podcast streaming services

Banner or Video ads included only in the web player of the streaming service

The Audio Advertising market in Baltics is experiencing significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Baltics are shifting towards audio advertising due to its effectiveness in reaching and engaging with audiences. With the rise of digital streaming platforms and podcasts, consumers are increasingly turning to audio content for entertainment and information. This has created a prime opportunity for advertisers to target their audience through audio advertisements, which can be seamlessly integrated into these platforms. Additionally, the convenience and accessibility of audio advertising on mobile devices have further contributed to its popularity among consumers. Trends in the market indicate a growing demand for programmatic audio advertising in the Baltics. Programmatic advertising allows for precise targeting and personalized messaging, maximizing the impact of audio advertisements. Advertisers are leveraging data and technology to deliver relevant and engaging audio ads to their target audience. This trend is driven by the increasing availability of data and advanced analytics tools, enabling advertisers to optimize their campaigns and measure their effectiveness. Local special circumstances in the Baltics, such as the high internet penetration rate and the popularity of mobile devices, have played a significant role in the development of the audio advertising market. The Baltics have one of the highest internet penetration rates in Europe, making it an attractive market for digital advertising. Furthermore, the widespread use of smartphones and mobile devices has created new opportunities for audio advertising, as consumers can easily access audio content on the go. Underlying macroeconomic factors, such as the overall economic growth and stability in the Baltics, have also contributed to the development of the audio advertising market. As the economies in the region continue to grow, businesses are investing more in advertising to reach their target audience and drive sales. This increased investment in advertising has fueled the growth of the audio advertising market, as businesses recognize the effectiveness of audio ads in capturing consumer attention and driving brand awareness. In conclusion, the Audio Advertising market in Baltics is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards audio advertising is driven by the popularity of digital streaming platforms and podcasts, as well as the convenience and accessibility of audio ads on mobile devices. Programmatic audio advertising is also on the rise, allowing advertisers to deliver personalized and targeted messages to their audience. The high internet penetration rate and the widespread use of mobile devices in the Baltics have further fueled the growth of the audio advertising market. Overall, the positive macroeconomic conditions in the region have led to increased investment in advertising, driving the development of the audio advertising market in the Baltics.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.