Audio Advertising - CIS | Statista Market Forecast

Ad spending in the Audio Advertising market in CIS is forecasted to reach US$325.30m in 2024.
The largest market within CIS is Traditional Radio Advertising with a market volume of US$219.50m in 2024.
When compared globally, the United States is expected to lead in ad spending, reaching US$19.07bn in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is projected to be US$4.27 in 2024.
In the CIS region, Audio Advertising is rapidly growing as companies tap into the diverse market opportunities presented by the region's unique cultural landscape.

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 CIS is experiencing significant growth and development.

Customer preferences: Customers in the CIS region have shown a strong preference for audio advertising due to its effectiveness in reaching a wide audience. With the increasing popularity of streaming services and podcasts, consumers are spending more time listening to audio content, making it an attractive platform for advertisers. Additionally, audio advertising allows for more targeted and personalized messaging, which resonates well with consumers in the CIS region.

Trends in the market: One of the key trends in the CIS Audio Advertising market is the rise of programmatic audio advertising. Programmatic advertising allows for automated buying and selling of ad inventory, making it more efficient and cost-effective for advertisers. This trend is driven by the increasing adoption of programmatic technology in the advertising industry globally, and the CIS region is no exception. Programmatic audio advertising enables advertisers to reach their target audience more effectively and optimize their ad campaigns in real-time. Another trend in the market is the growing popularity of native audio advertising. Native ads seamlessly integrate into the audio content, providing a more organic and non-intrusive advertising experience for listeners. This type of advertising is particularly effective in the CIS region, as consumers value authenticity and are more likely to engage with ads that blend seamlessly with the content they are consuming.

Local special circumstances: The CIS region consists of multiple countries with diverse cultures and languages. This presents a unique challenge for advertisers, as they need to tailor their audio ads to different languages and cultural nuances. Advertisers need to consider the local preferences and customs of each country in order to effectively engage with the target audience. Localization of audio ads is crucial in the CIS region to ensure maximum impact and resonance with consumers.

Underlying macroeconomic factors: The growing economy in the CIS region is contributing to the development of the Audio Advertising market. As the region experiences economic growth, there is an increase in consumer spending power, which in turn drives the demand for audio advertising. Advertisers are capitalizing on this opportunity by investing more in audio advertising to promote their products and services to the growing consumer base in the region. In conclusion, the Audio Advertising market in CIS is experiencing growth and development driven by customer preferences for audio content, trends such as programmatic and native advertising, local special circumstances requiring localization, and underlying macroeconomic factors. Advertisers in the CIS region are leveraging these factors to effectively reach their target audience and drive business growth.

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.