Digital Audio Advertising - Malaysia

  • Malaysia
  • The Digital Audio Advertising market in Malaysia is forecasted to reach US$16.19m in 2024.
  • It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 6.62%, leading to a projected market size of US$22.31m by 2029.
  • With a projected market value of US$7,078.00m in 2024, the majority of revenue will be generated the United States.
  • By 2029, the number of listeners in the Digital Audio Advertising market is expected to reach 6.2m users.
  • The average ad spending per user in the Digital Audio Advertising market is anticipated to be US$3.14 in 2024.
  • In 2029, 77% of the total ad spending will come from mobile platforms.
  • In Malaysia, the surge in programmatic buying is reshaping the digital audio advertising landscape, offering targeted and cost-effective ad placements to brands.

Key regions: United States, France, India, Asia, Japan

 
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Analyst Opinion

The Digital Audio Advertising market in Malaysia is experiencing significant growth and development.

Customer preferences:
Customers in Malaysia are increasingly turning to digital audio platforms for their entertainment and information needs. With the rise of smartphones and the availability of affordable data plans, more and more Malaysians are accessing digital audio content through streaming services, podcasts, and online radio. This shift in consumer behavior has created a lucrative opportunity for advertisers to reach their target audience through digital audio advertising.

Trends in the market:
One of the key trends in the Digital Audio Advertising market in Malaysia is the increasing popularity of streaming services. Platforms such as Spotify, Joox, and Apple Music have gained a strong foothold in the market, attracting a large number of users who are willing to pay for premium subscriptions. This provides advertisers with a highly engaged and captive audience, allowing them to deliver targeted and personalized advertisements. Another trend in the market is the growing popularity of podcasts. Malaysians are increasingly turning to podcasts for both entertainment and education. This presents a unique opportunity for advertisers to reach a highly engaged audience through podcast sponsorships and advertisements. Advertisers can align their brand with relevant podcast content and leverage the trust and loyalty that podcast hosts have built with their listeners.

Local special circumstances:
One of the local special circumstances that is driving the growth of the Digital Audio Advertising market in Malaysia is the increasing smartphone penetration rate. Malaysia has one of the highest smartphone penetration rates in Southeast Asia, with a large portion of the population owning smartphones. This has created a conducive environment for digital audio consumption, as users can easily access streaming services and podcasts on their mobile devices.

Underlying macroeconomic factors:
The growing Digital Audio Advertising market in Malaysia can also be attributed to the country's strong economic growth and increasing disposable income. As the economy continues to expand, more Malaysians have the means to access digital audio platforms and are willing to pay for premium subscriptions. This has attracted both local and international streaming services to invest in the Malaysian market, further driving the growth of the Digital Audio Advertising market. In conclusion, the Digital Audio Advertising market in Malaysia is experiencing significant growth and development due to changing customer preferences, including the increasing popularity of streaming services and podcasts. Local special circumstances such as high smartphone penetration rates and strong economic growth are also contributing to the growth of the market. Advertisers in Malaysia have a unique opportunity to reach a highly engaged audience through targeted and personalized advertisements on digital audio platforms.

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., 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, 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.

Overview

  • Ad Spending
  • Key Players
  • Analyst Opinion
  • Reach
  • Global Comparison
  • Methodology
  • Key Market Indicators
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