Market Insights Advertising & Media Advertising

Audio Advertising - Ireland

Ireland

In Ireland, the ad spending in the Audio Advertising market is projected to reach €92.92m in 2024.
The largest market is Traditional Radio Advertising with a market volume of €81.16m in 2024.
Globally, the United States leads in ad spending with €17,880.00m in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is projected to amount to €26.02 in 2024.
In Ireland, the Audio Advertising market is experiencing a surge in programmatic ad buying, revolutionizing how brands target audiences through audio channels.

Key regions: China, France, United States, Asia, United Kingdom

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Analyst Opinion

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

Customer preferences: In recent years, there has been a noticeable shift in customer preferences towards audio advertising. This can be attributed to the increasing popularity of digital audio platforms such as streaming services and podcasts. These platforms provide a convenient and personalized way for consumers to access audio content, making them an ideal medium for advertisers to reach their target audience. Additionally, the rise of mobile devices has made it easier for consumers to listen to audio content on the go, further driving the demand for audio advertising.

Trends in the market: One of the key trends in the Audio Advertising market in Ireland is the increasing adoption of programmatic audio advertising. Programmatic advertising allows advertisers to target specific audiences and deliver personalized messages at scale. With the advancements in technology and data analytics, advertisers can now leverage programmatic platforms to optimize their ad campaigns and maximize their return on investment. This trend is expected to continue as advertisers recognize the effectiveness and efficiency of programmatic audio advertising. Another trend in the market is the growing popularity of branded podcasts. Branded podcasts are audio series created by brands to engage and entertain their target audience. These podcasts provide a unique opportunity for advertisers to build a deeper connection with consumers and establish themselves as thought leaders in their industry. With the increasing number of podcast listeners in Ireland, brands are capitalizing on this trend by creating high-quality and engaging podcasts that align with their brand values.

Local special circumstances: One of the factors contributing to the growth of the Audio Advertising market in Ireland is the high smartphone penetration rate. Ireland has one of the highest smartphone penetration rates in Europe, with a large percentage of the population owning a smartphone. This provides a fertile ground for audio advertising as consumers can easily access audio content on their mobile devices. Furthermore, the Irish population has shown a strong affinity for audio content, with a significant portion of the population listening to music, podcasts, and radio on a regular basis. This cultural preference for audio content creates a favorable environment for advertisers to reach their target audience through audio advertising.

Underlying macroeconomic factors: The strong economic growth in Ireland has also contributed to the development of the Audio Advertising market. As the economy continues to expand, businesses are allocating more resources towards advertising and marketing activities, including audio advertising. The increased investment in advertising is driven by the need to remain competitive in a rapidly evolving digital landscape and to capitalize on the growing consumer demand for audio content. In conclusion, the Audio Advertising market in Ireland is experiencing growth and development due to shifting customer preferences, the adoption of programmatic advertising, the popularity of branded podcasts, local special circumstances such as high smartphone penetration and a cultural affinity for audio content, and underlying macroeconomic factors such as strong economic growth. This market trend is expected to continue as advertisers recognize the effectiveness and efficiency of audio advertising in reaching and engaging their target audience.

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.