Market Insights Digital Digital Media Digital Music

Podcast Advertising - Nigeria

Nigeria

Revenue in the Podcast Advertising market is projected to reach US$1.86m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2027) of 10.36%, resulting in a projected market volume of US$2.50m by 2027.
In the Podcast Advertising market, the number of users is expected to amount to 9.0m users by 2027.
User penetration will be 2.7% in 2024 and is expected to hit 3.7% by 2027.
In global comparison, most revenue will be generated in the United States (US$2,570,000.00k in 2024).
The average revenue per user (ARPU) in the Podcast Advertising market is projected to amount to US$0.30 in 2024.

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

Market

Region

Region comparison

Currency

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.