Audio Advertising - Spain | Statista Market Forecast

Spain is projected to reach an ad spending of US$727.30m in the Audio Advertising market by 2024.
The country's largest market, Traditional Radio Advertising, is expected to have a market volume of US$580.30m in the same year.
In global comparison, the United States will lead in ad spending with US$19.07bn in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is projected to be US$20.56 in 2024.
Spain's Audio Advertising market is embracing targeted podcasts and programmatic buying to enhance audience engagement and maximize advertising ROI.

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 Spain has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of digital audio platforms.

Customer preferences: Consumers in Spain are increasingly turning to digital audio platforms for their entertainment needs. This shift in consumer behavior has resulted in a growing audience for audio advertising, as advertisers seek to reach these engaged listeners. Additionally, the rise of mobile devices has made it easier for consumers to access audio content on the go, further driving the demand for audio advertising.

Trends in the market: One of the key trends in the Audio Advertising market in Spain is the increasing adoption of programmatic advertising. Programmatic advertising allows advertisers to target specific audiences and optimize their ad placements in real-time. This technology has revolutionized the audio advertising industry, providing advertisers with more precise targeting capabilities and improving the efficiency of their campaigns. Another trend in the market is the rise of podcast advertising. Podcasts have gained popularity in Spain, with a wide range of genres and topics available to listeners. Advertisers have recognized the potential of podcast advertising to reach a highly engaged audience and are increasingly investing in this medium. Podcast advertising offers a unique opportunity for brands to connect with listeners in a more intimate and personal way.

Local special circumstances: Spain has a strong tradition of radio broadcasting, with a wide variety of radio stations catering to different interests and demographics. This established radio culture has provided a solid foundation for the growth of audio advertising in the country. Advertisers can leverage the existing infrastructure and audience base of traditional radio to reach a wide range of listeners. Furthermore, the Spanish language plays a significant role in shaping the audio advertising market in Spain. Spanish is one of the most widely spoken languages in the world, and there is a growing demand for Spanish-language content across digital audio platforms. Advertisers targeting the Spanish-speaking audience have a unique opportunity to connect with a large and diverse market.

Underlying macroeconomic factors: The growth of the Audio Advertising market in Spain can also be attributed to favorable macroeconomic factors. Spain has experienced steady economic growth in recent years, which has led to increased consumer spending and advertising budgets. Advertisers are willing to invest in audio advertising to capitalize on the growing consumer market and reach their target audience effectively. In conclusion, the Audio Advertising market in Spain is experiencing significant growth due to changing customer preferences, the adoption of programmatic advertising, the rise of podcast advertising, the strong tradition of radio broadcasting, the demand for Spanish-language content, and favorable macroeconomic factors. Advertisers in Spain are recognizing the potential of audio advertising to reach a highly engaged audience and are investing in this medium to achieve their marketing objectives.

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.