Audio Advertising - Finland | Statista Market Forecast

Finland's Audio Advertising market is expected to see ad spending reach US$100.40m by 2024.
The largest market within this market is Traditional Radio Advertising, with a market volume of US$84.39m in 2024.
When compared globally, the United States is forecasted to lead in ad spending, reaching US$19.07bn in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is projected to be US$21.74 in 2024.
Finland's audio advertising market is experiencing a surge in programmatic ad buying, optimizing targeting and efficiency for advertisers in the digital landscape.

Definition:
Audio Advertising refers to advertising via traditional radio and digital audio. The category of Traditional Radio Advertising refers to advertising on the program service of a terrestrial radio station or network (terrestrial radio broadcasting and satellite radio services in the U.S. and Canada). 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

Structure:

Traditional Radio Advertising includes all types of spot formats of traditional radio advertising (e.g., classic spots, live reader, content spots, allonge). It also includes direct (local) advertising, in which advertisers reach out to individual stations, and indirect (national) advertising, in which advertisers employ media buying agencies to manage their advertising purchases from individual stations.
Digital Audio Advertising includes ad-supported free versions of premium subscription services or services funded by advertising. 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.

Additional information:
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. Additional definitions of Traditional Radio Advertising and Digital Audio Advertising can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Traditional Radio Advertising broadcasting on the program service of a terrestrial radio station or network
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 Audio Advertising market in Finland is experiencing significant growth and development. Customer preferences are shifting towards audio content consumption, leading to increased demand for audio advertising. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the expansion of the market.

Customer preferences: Finland has a high rate of smartphone penetration and internet usage, which has led to a surge in audio content consumption. Consumers are increasingly turning to audio platforms such as music streaming services and podcasts for entertainment and information. This trend is driven by the convenience and accessibility of audio content, as it can be consumed on-the-go and in various settings. As a result, advertisers are recognizing the potential of audio advertising to reach and engage with their target audience effectively.

Trends in the market: One of the key trends in the Finnish audio advertising market is the rise of programmatic audio advertising. Programmatic advertising allows for targeted and personalized ad placements based on user data and preferences. Advertisers can leverage this technology to deliver relevant and contextually appropriate audio ads to listeners. This trend is supported by the increasing availability of programmatic audio advertising platforms and the integration of programmatic capabilities into existing audio streaming services. Another trend in the market is the emergence of native audio advertising. Native ads seamlessly blend into the audio content, providing a non-disruptive and engaging advertising experience for listeners. This approach is particularly effective in capturing the attention and interest of the audience, as it feels more organic and less intrusive compared to traditional audio ads. Advertisers are increasingly adopting native audio advertising strategies to enhance brand awareness and drive customer engagement.

Local special circumstances: Finland has a strong tradition of audio content creation and consumption. The country is known for its music industry, with Finnish artists gaining international recognition. This cultural affinity towards audio content has created a fertile ground for the growth of the audio advertising market. Finnish consumers have a positive attitude towards audio ads, especially when they are relevant and add value to their listening experience. This favorable perception of audio advertising contributes to its effectiveness in reaching and influencing the target audience.

Underlying macroeconomic factors: Finland has a stable and prosperous economy, which provides a conducive environment for businesses and advertising investments. The country has a high standard of living and a well-educated population, making it an attractive market for advertisers. Additionally, Finland has a strong digital infrastructure, enabling seamless audio content streaming and ad delivery. These macroeconomic factors support the growth of the audio advertising market by creating favorable conditions for advertisers to reach their target audience effectively. In conclusion, the Audio Advertising market in Finland is driven by customer preferences for audio content consumption, the adoption of programmatic and native advertising strategies, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, advertisers in Finland need to stay abreast of these trends and leverage the unique opportunities presented by the audio advertising landscape to effectively engage with their target audience.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on audio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional radio advertising (broadcasting programs on terrestrial radio stations or networks) and digital audio advertising (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, internet users, consumer spending, 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.