Market Insights Advertising & Media Advertising

Audio Advertising - Vietnam

Vietnam

Vietnam is projected to see ad spending in the Audio Advertising market reach US$24.33m in 2024.
The country's largest market is Digital Audio Advertising, with a market volume of US$20.92m in 2024.
In global comparison, most ad spending will be generated the United States, amounting to US$19,560.00m in 2024.
The average ad spending per listener in the Digital Audio Advertising market is projected to be US$4.61 in 2024.
Vietnam's Audio Advertising market is rapidly growing, with a surge in demand for targeted podcast sponsorships and radio ad placements.

Key regions: China, Asia, Australia, France, Germany

Market

Region

Region comparison

Currency

Analyst Opinion

The Audio Advertising market in Vietnam is experiencing significant growth and development, driven by several key factors.

Customer preferences: Customers in Vietnam are increasingly turning to audio platforms for entertainment and information. With the rise of smartphones and increased internet penetration, streaming services and podcasts have gained popularity among Vietnamese consumers. This shift in customer preferences has created a new avenue for advertisers to reach their target audience through audio advertising.

Trends in the market: One of the major trends in the Audio Advertising market in Vietnam is the increased adoption of programmatic audio advertising. Programmatic advertising allows advertisers to target specific audiences based on their demographics, interests, and behavior. This targeted approach enhances the effectiveness of audio advertising campaigns, leading to higher engagement and conversion rates. Additionally, the use of voice-activated devices, such as smart speakers, is also on the rise in Vietnam. This presents an opportunity for advertisers to reach consumers through voice-activated audio ads.

Local special circumstances: Vietnam has a young and tech-savvy population, with a high percentage of smartphone users. This demographic is more likely to engage with audio content and embrace new technologies. Furthermore, Vietnamese consumers have a strong preference for local content, including music and podcasts. Advertisers can leverage this preference by partnering with local artists and influencers to create audio ads that resonate with the target audience.

Underlying macroeconomic factors: Vietnam's economy has been growing steadily over the years, leading to an increase in disposable income and consumer spending. This economic growth has resulted in a larger middle class with higher purchasing power. Advertisers are capitalizing on this by investing more in audio advertising to promote their products and services. Additionally, the government's efforts to improve internet infrastructure and expand internet access across the country have also contributed to the growth of the Audio Advertising market in Vietnam. In conclusion, the Audio Advertising market in Vietnam is experiencing significant growth and development due to changing customer preferences, the adoption of programmatic advertising, local special circumstances, and underlying macroeconomic factors. Advertisers in Vietnam are leveraging these trends and factors to reach their target audience more effectively and drive business growth.

Methodology

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.