Digital Audio Advertising - 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 2024-2030) of 3.90%, leading to a projected market volume of US$97.75m by 2030.
With a projected market volume of US$6.59bn 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 0.0users by 2030.
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 2030.
Thailand's Digital Audio Advertising market is rapidly expanding, driven by the increasing popularity of music streaming platforms among 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 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.

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.