Music Streaming Advertising - Latvia
Latvia- Revenue in the Music Streaming Advertising market is projected to reach US$1.12m in 2024.
- Revenue is expected to show an annual growth rate (CAGR 2024-2027) of 5.44%, resulting in a projected market volume of US$1.31m by 2027.
- In the Music Streaming Advertising market, the number of users is expected to amount to 150.9k users by 2027.
- User penetration will be 8.3% in 2024 and is expected to hit 8.5% by 2027.
- In global comparison, most revenue will be generated United States (US$2.95bn in 2024).
- The average revenue per user (ARPU) in the Music Streaming Advertising market is projected to amount to US$7.44 in 2024.
Definition
Music streaming advertising refers to the promotion of products, services, or brands through audio and display ads placed within music streaming services. Music streaming services are online platforms that allow users to listen to music on-demand, either for free with advertisements or through a paid subscription. Music streaming advertising can take different forms, including audio ads that play between songs, sponsored playlists, display ads that appear on the platform, and video ads that play before or during music videos. Advertisers can target their ads to specific demographics, interests, or behaviors, and measure their effectiveness through metrics such as listener engagement, click-through rates, or conversions.Additional information:
Music streaming advertising comprises advertising spending, users, average revenue per user and penetration. The market only displays B2B spending. Figures are based on music streaming advertising spending and exclude agency commissions, rebates, production costs, and taxes.In-Scope
- Audio ads, such as those featured on Spotify, Pandora, and Apple Music
- Sponsored playlists, such as those featured on Spotify and Apple Music
- Branded content, such as sponsored content or artist collaborations for instance featured on Tidal.
Out-Of-Scope
- Video ads, such as pre-roll or mid-roll ads on video content on music streaming platforms or other platforms such as YouTube
- Audio advertising in other forms of media, such as radio or podcasting
- Non-audio music streaming-related advertising, such as sponsorships of a music streaming platform's website or merchandise
