Market Insights Advertising & Media Advertising Audio Advertising

Digital Audio Advertising - Thailand

Thailand

Ad spending in the Digital Audio Advertising market in Thailand is forecasted to reach US$77.70m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 4.16%, leading to a projected market volume of US$95.28m by 2029.
With a projected market volume of US$6,586.00m in 2024, the majority of revenue will be generated in Thailand.
In the Digital Audio Advertising market in Thailand, the number of listeners is expected to reach 15.0m users by 2029.
The average ad spending per user in the Digital Audio Advertising market in Thailand is estimated to be US$6.40 in 2024.
In the Digital Audio Advertising market in Thailand, 67% of total ad spending will be generated through mobile in 2029.
Thailand's Digital Audio Advertising market is rapidly expanding, driven by the increasing popularity of music streaming platforms among consumers.

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

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Analyst Opinion

The Digital Audio Advertising market in Thailand has experienced significant growth in recent years, driven by changing customer preferences and the increasing popularity of streaming platforms.

Customer preferences: Thailand has seen a surge in the adoption of digital audio platforms, with a growing number of consumers turning to streaming services for their music and podcast needs. This shift in customer preferences has created a lucrative market for digital audio advertising, as brands seek to reach these engaged and captive audiences.

Trends in the market: One of the key trends in the Thai Digital Audio Advertising market is the rise of programmatic advertising. Programmatic advertising allows brands to target specific audiences based on their demographics, interests, and behavior, enabling more personalized and relevant ad experiences. This trend has been fueled by advancements in technology and data analytics, which have made it easier for advertisers to reach their target audience with precision. Another trend in the market is the increasing popularity of podcast advertising. Podcasts have gained a loyal following in Thailand, with listeners tuning in for a variety of topics, including entertainment, education, and news. Advertisers have recognized the potential of podcast advertising to reach a highly engaged audience, leading to a rise in branded content and sponsorships within podcasts.

Local special circumstances: One of the unique aspects of the Thai market is the dominance of local streaming platforms. While global platforms like Spotify and Apple Music have a presence in Thailand, local platforms such as JOOX and Deezer have gained significant popularity. These local platforms cater to the preferences of Thai consumers by offering a wide range of Thai music and content, making them attractive options for advertisers looking to target the local market.

Underlying macroeconomic factors: Thailand's strong economic growth and increasing internet penetration have played a crucial role in the development of the Digital Audio Advertising market. As more Thai consumers gain access to the internet and smartphones, the demand for digital audio content and advertising opportunities continues to grow. Additionally, the rise of e-commerce and digital payments in Thailand has created new avenues for brands to reach consumers through digital audio advertising. In conclusion, the Digital Audio Advertising market in Thailand is experiencing significant growth due to changing customer preferences, the rise of programmatic advertising, and the increasing popularity of podcast advertising. The dominance of local streaming platforms and favorable macroeconomic factors further contribute to the development of the market. As technology continues to advance and more Thai consumers embrace digital audio platforms, the market is expected to continue its upward trajectory.

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.