Audio Advertising - Taiwan | Statista Market Forecast

Ad spending in the Audio Advertising market in Taiwan is forecasted to hit US$136.80m in 2024.
The largest market is Traditional Radio Advertising with a market volume of US$99.70m in 2024.
When compared globally, the United States leads in ad spending, expected to reach US$19.07bn in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is projected to be US$16.73 in 2024.
Taiwan's Audio Advertising market is seeing a surge in programmatic buying, leveraging advanced targeting capabilities to reach niche audiences effectively.

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 Taiwan has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of audio streaming platforms. Customer preferences in Taiwan have shifted towards digital media consumption, with a particular emphasis on audio content. This can be attributed to the convenience and accessibility offered by audio streaming platforms, which allow users to listen to their favorite music, podcasts, and radio shows on-the-go. As a result, advertisers have recognized the potential of audio advertising in reaching a captive audience and have increased their investments in this medium. One of the key trends in the Audio Advertising market in Taiwan is the rise of programmatic audio advertising. Programmatic advertising allows advertisers to target specific audience segments based on their demographics, interests, and behavior, ensuring that their messages reach the right people at the right time. This level of precision and targeting has proven to be highly effective in increasing brand awareness and driving conversions. As a result, more advertisers in Taiwan are adopting programmatic audio advertising as part of their overall marketing strategy. Another trend in the market is the integration of audio advertising with voice-activated devices. With the increasing popularity of smart speakers and voice assistants, such as Amazon Echo and Google Home, audio advertising has found a new channel to reach consumers. Advertisers can now create interactive and engaging audio ads that can be triggered by voice commands, allowing for a more immersive and personalized advertising experience. This trend is expected to continue as voice-activated devices become more prevalent in Taiwanese households. In addition to customer preferences and global trends, there are also local special circumstances that are driving the growth of the Audio Advertising market in Taiwan. One such circumstance is the high smartphone penetration rate in the country. Taiwan has one of the highest smartphone adoption rates in the world, with a large portion of the population relying on their smartphones for entertainment and information. This presents a unique opportunity for advertisers to reach consumers through audio ads on mobile apps and streaming platforms. Furthermore, the increasing popularity of local music artists and podcasts in Taiwan has contributed to the growth of the Audio Advertising market. Taiwanese consumers have shown a strong preference for local content, and advertisers have recognized the potential in partnering with local artists and podcasters to promote their products and services. This trend has not only boosted the audio advertising market but has also supported the local creative industry. Underlying macroeconomic factors, such as the steady economic growth and stable political environment in Taiwan, have also played a role in the development of the Audio Advertising market. A thriving economy and a favorable business environment have attracted both domestic and international advertisers to invest in audio advertising in Taiwan. Additionally, the government's support for the digital media industry through favorable policies and incentives has further stimulated market growth. In conclusion, the Audio Advertising market in Taiwan is experiencing significant growth due to changing customer preferences, the rise of programmatic advertising, integration with voice-activated devices, local special circumstances, and underlying macroeconomic factors. As audio streaming platforms continue to gain popularity and advertisers recognize the potential of audio ads, the market is expected to further expand in the coming years.

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.