Digital Audio Advertising - Eastern Asia

In Eastern Asia, ad spending in the Digital Audio Advertising market is forecasted to reach US$1.68bn in 2024.
The market is expected to exhibit an annual growth rate (CAGR 2024-2030) of 2.97%, leading to a projected market volume of US$2.00bn by 2030.
With a projected market volume of US$6.59bn in 2024, the majority of revenue will be generated the United States.
By 2030, the number of listeners in the Digital Audio Advertising market is anticipated to reach 0.0users.
The average ad spending per user in the Digital Audio Advertising market is estimated to be US$4.08 in 2024.
In 2030, 80% of total ad spending in the Digital Audio Advertising market will be generated through mobile.
In South Korea, the rise of programmatic buying is revolutionizing the digital audio advertising landscape, offering targeted and efficient ad placements.

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 Eastern Asia is experiencing significant growth and development due to several key factors. Customer preferences are shifting towards consuming audio content on digital platforms, leading to increased demand for digital audio advertising. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the growth of this market. Customer preferences in Eastern Asia are evolving, with a growing number of consumers choosing to listen to audio content on digital platforms. This shift can be attributed to the increasing availability and accessibility of smartphones and other digital devices in the region. As a result, advertisers are recognizing the importance of reaching consumers through digital audio channels, leading to a rise in demand for digital audio advertising. Trends in the market indicate that digital audio advertising is becoming more personalized and targeted. Advertisers are leveraging data and analytics to understand consumer behavior and preferences, allowing them to deliver more relevant and engaging audio ads. This trend is driven by advancements in technology, such as programmatic advertising, which enables advertisers to automate the process of buying and selling ad inventory. As a result, advertisers can reach their target audience more effectively, leading to higher engagement and conversion rates. Local special circumstances in Eastern Asia also contribute to the growth of the Digital Audio Advertising market. For instance, countries like China and South Korea have a large population of smartphone users who are actively engaged in consuming digital content. This presents a significant opportunity for advertisers to reach a wide audience through digital audio platforms. Furthermore, the popularity of music streaming services in the region provides advertisers with a captive audience for their audio ads. Underlying macroeconomic factors, such as the overall economic growth and increasing disposable income in Eastern Asia, are also driving the development of the Digital Audio Advertising market. As the region's economies continue to expand, consumers have more purchasing power, leading to increased demand for products and services. Advertisers recognize the potential of reaching these consumers through digital audio advertising, as it allows them to deliver targeted and impactful messages. In conclusion, the Digital Audio Advertising market in Eastern Asia is witnessing significant growth and development due to shifting customer preferences, personalized advertising trends, local special circumstances, and underlying macroeconomic factors. As the region continues to embrace digital platforms and technology, the demand for digital audio advertising is expected to further increase. Advertisers who recognize and adapt to these trends will have the opportunity to effectively engage with their target audience and drive business growth.

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.