Digital Audio Advertising - India

Ad spending in the Digital Audio Advertising market in India is forecasted to reach US$431.90m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 2.03%, leading to a projected market volume of US$487.30m by 2030.
With a projected market volume of US$6.59bn in 2024, a significant portion of the revenue will be generated in India.
In the Digital Audio Advertising market in India, the number of listeners is expected to reach 0.0users by 2030.
The average ad spending per user in the Digital Audio Advertising market in India is projected to be US$3.83 in 2024.
In the Digital Audio Advertising market in India, 78% of total ad spending will be generated through mobile in 2030.
India's Digital Audio Advertising market is rapidly growing, driven by the surge in smartphone usage and the popularity of music streaming platforms like Gaana and JioSaavn.

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 India is experiencing significant growth and development.

Customer preferences: Indian consumers are increasingly embracing digital audio platforms for their entertainment and information needs. With the rapid increase in smartphone penetration and affordable data plans, more and more people are accessing digital audio content on their mobile devices. This has led to a shift in consumer preferences from traditional radio to digital audio platforms.

Trends in the market: One of the key trends in the Digital Audio Advertising market in India is the rise of music streaming platforms. These platforms offer a wide range of music genres and personalized playlists, attracting a large user base. Advertisers are capitalizing on this trend by leveraging the targeted advertising capabilities of these platforms to reach their desired audience. Another trend in the market is the increasing popularity of podcasts. Podcasts have gained traction in India, with a growing number of listeners tuning in to their favorite shows on various topics such as news, entertainment, and education. Advertisers are recognizing the potential of podcast advertising to engage with a captive audience and are investing in this medium.

Local special circumstances: India is a diverse country with multiple regional languages and cultures. This diversity is reflected in the digital audio landscape, with a variety of content available in different languages. Advertisers are leveraging this diversity by creating targeted campaigns that resonate with specific regional audiences. This localized approach helps in building stronger connections with consumers and driving higher engagement.

Underlying macroeconomic factors: The growth of the Digital Audio Advertising market in India is supported by several macroeconomic factors. The country's strong economic growth, rising disposable incomes, and increasing internet penetration are driving the adoption of digital audio platforms. Additionally, the government's initiatives such as Digital India and Make in India are promoting digital transformation and attracting investments in the digital advertising space. In conclusion, the Digital Audio Advertising market in India is witnessing rapid growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Advertisers are capitalizing on the popularity of digital audio platforms, music streaming services, and podcasts to reach their target audience effectively. With the continued expansion of the digital ecosystem and increasing consumer adoption, the market is expected to further evolve and offer new opportunities 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.