Digital Audio Advertising - Chile

Ad spending in the Digital Audio Advertising market in Chile is forecasted to reach US$15.43m by 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 5.71%, leading to an estimated market volume of US$21.53m by 2030.
Chile is expected to reach a projected market volume of US$6.59bn in 2024, with a significant portion of revenue being generated in the country.
Within the Digital Audio Advertising market in Chile, the number of listeners is forecasted to reach 0.0users by 2030.
The average ad spending per user in the Digital Audio Advertising market in Chile is projected to be US$2.74 in 2024.
It is predicted that 65% of the total ad spending in the Digital Audio Advertising market in Chile will be generated through mobile by 2030.
Chile's Digital Audio Advertising market is rapidly growing, with increased investment from local and international advertisers targeting tech-savvy consumers.

Definition:
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. 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.

Structure:

Music streaming advertising is ad supported on music-streaming services
Podcast advertising is ad supported for ads placed within podcast channels

Additional information:
Digital 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. Key players in Digital Audio Advertising include Amazon Music, Apple Music, YouTube Music, Tencent Music, and Spotify. For more information on the data displayed, use the info button right next to the boxes.

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 Digital Audio Advertising market in Chile is experiencing significant growth and development.

Customer preferences: Chilean consumers are increasingly turning to digital audio platforms for their music and podcast needs. This shift in consumer behavior is driven by several factors, including the convenience and accessibility of streaming services, the growing popularity of podcasts, and the increasing penetration of smartphones and other mobile devices. As a result, advertisers are recognizing the potential of digital audio advertising to reach a highly engaged and captive audience.

Trends in the market: One major trend in the Digital Audio Advertising market in Chile is the rise of programmatic advertising. Programmatic advertising allows advertisers to target specific audiences based on their demographic, geographic, and behavioral data. This targeted approach ensures that ads are delivered to the right people at the right time, maximizing their effectiveness. Additionally, programmatic advertising offers greater efficiency and cost-effectiveness for advertisers, as it eliminates the need for manual ad placements and negotiations. Another trend in the market is the increasing adoption of native advertising in digital audio. Native ads seamlessly blend into the user experience, providing a non-disruptive and more engaging advertising format. This type of advertising is particularly effective in digital audio platforms, as it allows advertisers to deliver their messages in a way that feels natural and relevant to the listener.

Local special circumstances: Chile has a strong and growing digital infrastructure, with high internet penetration and smartphone adoption rates. This provides a solid foundation for the growth of the Digital Audio Advertising market. Additionally, Chilean consumers are known for their high engagement with digital media, making them an attractive target audience for advertisers.

Underlying macroeconomic factors: The growing Digital Audio Advertising market in Chile is also influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in an expanding middle class with increased purchasing power. This provides advertisers with a larger consumer base to target and a greater potential for return on investment. In conclusion, the Digital Audio Advertising market in Chile is thriving due to changing customer preferences, such as the increased use of digital audio platforms, and the adoption of programmatic and native advertising. The local special circumstances, including a strong digital infrastructure and engaged consumer base, further contribute to the growth of the market. Additionally, underlying macroeconomic factors, such as economic growth and an expanding middle class, provide a favorable environment for advertisers.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital audio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers 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, media consumption, internet users, 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.

Podcasts are still the cool kid in the media family. Even though podcast advertising revenues remain lower than that of established media such as pay TV or out-of-home, the industry is thriving and has successfully reached the threshold of two billion U.S. dollars in annual ad revenue in the United States. The U.S. is the country with the highest number of podcast listeners worldwide, with an estimated 76 million people or 23 percent of the population consuming that audio content on a regular basis.