Market Insights Digital Digital Advertising

Audio Advertising - Singapore

Singapore

Ad spending in the Audio Advertising market is projected to reach US$13.4m in 2024.
Ad spending is expected to show an annual growth rate (CAGR 2024-2028) of 2.85%, resulting in a projected market volume of US$15.0m by 2028.
In global comparison, most ad spending will be generated in the United States (US$6,466m in 2024).
The average ad spending per listener in the Audio Advertising market is projected to amount to US$7.0 in 2024.
In the Audio Advertising market, 77% of total ad spending will be generated through mobile in 2028.

Key regions: India, Australia, Europe, United Kingdom, United States

Market

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Currency

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital audio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers 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., Statista Global Consumer 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, media consumption, internet users, 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.