Podcast Advertising - Asia | Statista Market Forecast

In Asia, revenue in the Podcast Advertising market market is projected to reach US$730.20m in 2024.
Revenue in this region is expected to show an annual growth rate (CAGR 2024-2029) of 3.84%, resulting in a projected market volume of US$881.40m by 2029.
In a global context, the majority of revenue will be generated the United States, which is expected to reach US$2.57bn in 2024.
In the Podcast Advertising market market withAsia, the number of users is anticipated to amount to 387.6m users by 2029.
User penetration will be 5.4% in 2024 and is expected to increase to 8.3% by 2029.
Podcast advertising in India is experiencing robust growth as brands increasingly leverage the medium to engage younger, tech-savvy audiences and enhance brand loyalty.

Definition

Podcast advertising refers to the practice of promoting products, services, or brands through ads inserted into podcasts, which are audio recordings that can be downloaded or streamed online. Podcasts can cover a wide range of topics, including news, entertainment, education, and business. Podcast advertising can take different forms, including pre-roll ads that play at the beginning of a podcast, mid-roll ads that play in the middle of a podcast, and post-roll ads that play at the end of a podcast. Advertisers can target their ads to specific demographics, interests, or behaviors, and measure their effectiveness through metrics such as listener engagement, downloads, or conversions.

Additional information:

Podcast advertising comprises advertising spending, users, average revenue per user and penetration. The market only displays B2B spending. Figures are based on podcast advertising spending and exclude agency commissions, rebates, production costs, and taxes.

Host-read ads, such as those featured on The Joe Rogan Experience, Serial, and Stuff You Should Know
Programmatic ads, such as location or listener demographics or those featured on NPR podcasts
Branded content, such as those featured on Radiolab, TED Radio Hour, and This American Life.

Non-audio podcast-related advertising, such as sponsorships of a podcast's website or merchandise
Video advertising, such as pre-roll or mid-roll ads on video podcasts or on platforms such as YouTube
Audio advertising in other forms of media, such as radio or music streaming services.

The Podcast Advertising market in Asia is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Asia have shifted towards consuming audio content on digital platforms, leading to a rise in the popularity of podcasts. This shift can be attributed to several factors, including the increasing use of smartphones and the convenience of accessing podcasts on-the-go. Additionally, the younger demographic in Asia is more inclined towards digital media consumption, further driving the demand for podcasts. Trends in the market indicate that advertisers are recognizing the potential of podcast advertising in reaching their target audience. With the rise of influencer marketing and the effectiveness of native advertising, brands are leveraging podcast platforms to promote their products and services. Podcasts offer a unique opportunity for advertisers to engage with listeners in an intimate and personalized manner, creating a more impactful advertising experience. Local special circumstances in various Asian countries also contribute to the growth of the Podcast Advertising market. For example, in countries like China and South Korea, where traditional media channels are heavily regulated, podcasts provide a more flexible and accessible platform for advertisers to reach their audience. Furthermore, the diversity of languages and cultures in Asia allows for a wide range of podcast content, catering to specific regional preferences and interests. Underlying macroeconomic factors such as increasing internet penetration and smartphone adoption rates are also driving the growth of the Podcast Advertising market in Asia. As more people gain access to the internet and smartphones, the potential reach of podcasts expands, creating a larger audience base for advertisers. Additionally, the growing middle class in many Asian countries has led to increased purchasing power, making the region an attractive market for advertisers. In conclusion, the Podcast Advertising market in Asia is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As the popularity of podcasts continues to rise and advertisers recognize the potential of this medium, the market is expected to further expand in the coming years.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on podcast advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers 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.