Market Insights Advertising & Media Advertising Audio Advertising

Digital Audio Advertising - CIS

The CIS country is projected to see ad spending in the Digital Audio Advertising market reach US$105.80m in 2024.
The market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 2.03%, leading to a projected market volume of US$117.00m by 2029.
With a projected market volume of US$7,078.00m in 2024, the majority of revenue will be generated the United States.
By 2029, the Digital Audio Advertising market in the CIS country is anticipated to have around 31.9m users listeners.
The average ad spending per user in the Digital Audio Advertising market is forecasted to be US$4.27 in 2024.
In the Digital Audio Advertising market, 61% of total ad spending is expected to come from mobile advertising in 2029.
The CIS region is witnessing a surge in programmatic digital audio advertising, leveraging data-driven strategies for targeted audience engagement.

Key regions: United States, France, India, Asia, Japan

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Analyst Opinion

The Digital Audio Advertising market in CIS 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 CIS region are shifting towards digital audio advertising due to its convenience and accessibility. With the increasing penetration of smartphones and internet connectivity, consumers are spending more time listening to music and podcasts on digital platforms. This has created a favorable environment for advertisers to reach their target audience through audio advertisements. Moreover, customers are increasingly embracing personalized and interactive advertising experiences, which can be effectively delivered through digital audio platforms. Trends in the market indicate a strong growth potential for digital audio advertising in the CIS region. Advertisers are leveraging programmatic advertising technologies to target specific audience segments and optimize their ad campaigns. This enables them to deliver relevant and personalized messages to consumers, resulting in higher engagement and conversion rates. Additionally, the rise of voice-activated devices and smart speakers has opened up new opportunities for audio advertising, as brands can now reach consumers through voice-activated ads and sponsorships on these platforms. Local special circumstances in the CIS region contribute to the development of the digital audio advertising market. The region has a diverse population with varying language preferences, and digital audio platforms offer the flexibility to deliver ads in multiple languages. This allows advertisers to effectively target different segments of the population and tailor their messaging to specific cultural nuances. Furthermore, the relatively low cost of digital audio advertising compared to traditional media channels makes it an attractive option for both large and small businesses in the region. Underlying macroeconomic factors also play a role in the growth of the digital audio advertising market in the CIS region. The region has experienced steady economic growth in recent years, leading to an increase in disposable income and consumer spending. This has created a larger market for advertisers to target and invest in digital audio advertising campaigns. Additionally, the region's young and tech-savvy population, coupled with improving internet infrastructure, has created a conducive environment for the adoption of digital audio platforms. In conclusion, the Digital Audio Advertising market in CIS is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Advertisers are capitalizing on the convenience and accessibility of digital audio platforms to deliver personalized and interactive advertising experiences to consumers. With the continued growth of the region's economy and advancements in technology, the digital audio advertising market in CIS is expected to further expand in the coming years.

Methodology

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.