Market Insights Digital Digital Media Digital Music

Podcast Advertising - GCC

The Podcast Advertising market in GCC is anticipated to witness substantial growth in the coming years.
According to projections, the revenue in this market is expected to reach US$4.62m by 2024.
Furthermore, it is estimated that the market will experience a steady annual growth rate (CAGR 2024-2027) of 2.81%, resulting in a projected market volume of US$5.02m by 2027.
In terms of user base, the Podcast Advertising market is predicted to have approximately 6.2m users users by 2027.
However, it is important to note that user penetration is currently at 0.00 in 2024 and is projected to remain the same by 2027.
When compared globally, United States is expected to generate the highest revenue in the Podcast Advertising market, with an estimated US$2,570,000.00k in 2024.
This showcases the dominant position of the United States in this market segment.
Lastly, the average revenue per user (ARPU) in the Podcast Advertising market is projected to be US$0.94 in 2024.
This metric provides insights into the average amount of revenue generated per user in this market.
Overall, the Podcast Advertising market in GCC is poised for significant growth, with substantial revenue projections, a growing user base, and a promising ARPU.
With the growing popularity of podcasts in the GCC, advertisers are increasingly targeting this market to reach a tech-savvy and engaged audience.

Key regions: Japan, United Kingdom, Europe, China, South Korea

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Analyst Opinion

Podcast advertising has been growing rapidly in recent years, and several trends are emerging that are shaping the industry. One of the most notable trends is the increasing use of host-read ads, which are ads that are read by the podcast host themselves. These ads tend to be more effective and engaging than traditional pre-recorded ads, as they feel more natural and authentic. Another trend is the rise of programmatic advertising, which uses algorithms to automate the buying and placement of podcast ads.

Podcast advertising has seen strong growth in recent years, driven by several factors. One key factor is the increasing popularity of podcasts as a medium for consuming audio content. With more people tuning in to podcasts on a regular basis, there is a growing audience for advertisers to reach. Additionally, podcast advertising offers several advantages over traditional forms of advertising, such as radio and TV. Podcast ads are often more engaging and targeted, as they can be tailored to specific audiences based on their interests and listening habits. Another growth factor is the increasing sophistication of podcast technology, which has made it easier and more cost-effective for producers to create high-quality content and for advertisers to reach their target audience. Finally, the COVID-19 pandemic has accelerated the shift towards digital media, including podcasts, as more people spend time at home and seek out new forms of entertainment.

Methodology

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., 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, 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.