Market Insights Advertising & Media Advertising

Audio Advertising - Portugal

Portugal

Portugal is projected to reach an ad spending of US$121.90m in the Audio Advertising market by 2024.
The largest market in the country is Traditional Radio Advertising, with a market volume of US$104.30m in 2024.
When looking at global comparison, the United States leads in ad spending with US$19,560.00m in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is projected to be US$15.23 in 2024.
Portugal's audio advertising market is embracing podcast sponsorships as a key strategy to engage with a growing digital audience.

Key regions: China, Asia, Australia, France, Germany

Market

Region

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Currency

Analyst Opinion

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

Customer preferences: Portuguese consumers have shown a strong preference for audio content, making the Audio Advertising market a highly attractive platform for advertisers. With the rise of streaming services and the increasing popularity of podcasts, audio has become an integral part of people's daily lives. This has created a captive audience for advertisers, who can effectively reach consumers through audio platforms.

Trends in the market: One of the key trends in the Audio Advertising market in Portugal is the shift towards programmatic advertising. Programmatic advertising allows advertisers to target specific audiences based on their interests, demographics, and behavior. This targeted approach ensures that advertisers can reach the right people at the right time, increasing the effectiveness of their campaigns. As a result, programmatic advertising has gained traction in Portugal, with advertisers embracing this technology to maximize their advertising ROI. Another trend in the market is the growing popularity of native audio ads. Native ads seamlessly blend into the audio content, providing a non-intrusive advertising experience for listeners. This type of advertising is highly effective as it does not disrupt the user experience and is more likely to be engaged with by listeners. Advertisers in Portugal are increasingly adopting native audio ads as a way to connect with their target audience in a more organic and authentic way.

Local special circumstances: One of the unique aspects of the Portuguese market is the high penetration of smartphones and mobile internet usage. Portugal has one of the highest smartphone penetration rates in Europe, with a large portion of the population accessing the internet through their mobile devices. This presents a significant opportunity for advertisers in the Audio Advertising market, as they can reach consumers anytime and anywhere through mobile audio platforms.

Underlying macroeconomic factors: The strong economic growth in Portugal has also contributed to the development of the Audio Advertising market. As the economy continues to grow, businesses are increasing their advertising budgets to reach a larger audience and capitalize on the expanding market. This has led to increased competition among advertisers, driving innovation and investment in the Audio Advertising market. In conclusion, the Audio Advertising market in Portugal is experiencing rapid growth and development due to customer preferences for audio content, the adoption of programmatic advertising, the popularity of native audio ads, the high penetration of smartphones, and the strong macroeconomic factors. Advertisers in Portugal are leveraging these trends and circumstances to effectively reach their target audience and maximize their advertising ROI.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on audio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional radio advertising (broadcasting programs on terrestrial radio stations or networks) and digital audio advertising (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) 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.