Audio Advertising - Benelux | Statista Market Forecast

In Benelux, ad spending in the Audio Advertising market is forecasted to reach US$775.80m in 2024.
The country's largest market is Traditional Radio Advertising with a market volume of US$681.10m 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 Benelux's Traditional Radio Advertising market is projected to be US$35.72 in 2024.
In Benelux, the Audio Advertising market is experiencing a shift towards programmatic buying, enhancing targeting capabilities and driving efficiency in ad placements.

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 Benelux has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for the growth in the Audio Advertising market in Benelux is the increasing popularity of streaming services. Streaming platforms, such as Spotify and Deezer, have gained a large user base in the region, and advertisers are taking advantage of this trend by investing in audio ads on these platforms. Additionally, with the rise of smart speakers and voice assistants, consumers are increasingly engaging with audio content, creating more opportunities for advertisers to reach their target audience through audio advertising.

Trends in the market: Another trend in the Audio Advertising market in Benelux is the shift towards programmatic audio advertising. Programmatic advertising allows advertisers to target specific audiences based on their demographics, interests, and behavior, resulting in more effective and personalized campaigns. This trend is driven by advancements in technology and data analytics, which enable advertisers to optimize their ad placements and maximize their return on investment.

Local special circumstances: In addition to these global trends, there are also some local special circumstances that are influencing the development of the Audio Advertising market in Benelux. One of these circumstances is the multilingual nature of the region. The Benelux countries – Belgium, the Netherlands, and Luxembourg – have multiple official languages, and advertisers need to consider this diversity when creating audio ads. Advertisers often create different versions of their ads in different languages to ensure that they resonate with the local audience.

Underlying macroeconomic factors: The growth of the Audio Advertising market in Benelux is also supported by favorable macroeconomic factors in the region. The Benelux countries have strong economies and high levels of disposable income, which make them attractive markets for advertisers. Additionally, the high internet penetration rate in the region provides a solid foundation for digital advertising, including audio advertising. In conclusion, the Audio Advertising market in Benelux is experiencing growth due to customer preferences for streaming services and programmatic advertising. Advertisers are capitalizing on these trends by investing in audio ads on streaming platforms and utilizing programmatic advertising technologies. The multilingual nature of the region and favorable macroeconomic factors also contribute to the development of the market.

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.