Market Insights Advertising & Media Advertising

Audio Advertising - Worldwide

Worldwide

Ad spending in the Audio Advertising market is projected to reach US$38.75bn in 2023.
The largest market is Traditional Radio Advertising with a market volume of US$28.61bn in 2023.
In global comparison, most ad spending will be generated in the United States (US$18,570m in 2023).
The average ad spending per listener in the Traditional Radio Advertising market is projected to amount to US$9.33 in 2023.

Key regions: United States, Europe, Asia, France, Germany

Market

Region

Region comparison

Currency

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., 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.