Market Insights Advertising & Media Advertising

Audio Advertising - Thailand

Thailand

Thailand is expected to see Ad spending in the Audio Advertising market reach €192.90m in 2024.
The country's largest market is Traditional Radio Advertising with a market volume of €121.60m in 2024.
In global comparison, the United States will lead in ad spending with €17,500.00m in 2024.
The average ad spending per listener in the Traditional Radio Advertising market is projected to amount to €6.09 in 2024.
In Thailand, the rise of programmatic audio advertising is reshaping the landscape, offering targeted and personalized messages to captivate audiences effectively.

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

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Analyst Opinion

The Audio Advertising market in Thailand has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of audio streaming platforms.

Customer preferences: Customers in Thailand are increasingly turning to audio streaming platforms for their entertainment needs. This shift in preference can be attributed to several factors, including the convenience and accessibility of these platforms, the wide variety of content available, and the ability to personalize their listening experience. Additionally, the rise of smartphones and affordable data plans has made it easier for consumers to access audio content on the go. As a result, advertisers are recognizing the potential of audio advertising to reach a large and engaged audience.

Trends in the market: One of the key trends in the Audio Advertising market in Thailand is the growing adoption of programmatic audio advertising. Programmatic advertising allows advertisers to target specific audience segments based on their demographics, interests, and behavior, resulting in more effective and personalized campaigns. This trend is driven by advancements in technology and data analytics, which enable advertisers to optimize their ad placements and measure the impact of their campaigns. Furthermore, the rise of programmatic audio advertising has also led to an increase in collaborations between audio streaming platforms and ad tech companies, further fueling the growth of the market. Another trend in the market is the emergence of branded podcasts as a form of audio advertising. Branded podcasts are podcasts produced by brands or in collaboration with media companies, with the aim of promoting their products or services in an engaging and non-intrusive way. This trend is driven by the growing popularity of podcasts as a medium for storytelling and entertainment. By creating branded podcasts, advertisers can connect with their target audience in a more intimate and authentic manner, while also providing valuable content that listeners are interested in.

Local special circumstances: In Thailand, there is a strong preference for local content and Thai language in audio advertising. Advertisers need to tailor their campaigns to the local culture and language in order to effectively engage with the Thai audience. This presents an opportunity for local content creators and agencies to collaborate with brands and develop customized audio advertising campaigns that resonate with the local audience.

Underlying macroeconomic factors: The growing Audio Advertising market in Thailand can also be attributed to the country's strong economic growth and increasing consumer spending power. As the Thai economy continues to expand, more businesses are investing in advertising to reach their target audience and drive sales. Additionally, the rise of digital advertising has made it more affordable for businesses of all sizes to advertise on audio streaming platforms, further contributing to the growth of the market. In conclusion, the Audio Advertising market in Thailand is experiencing significant growth due to changing customer preferences, the adoption of programmatic advertising, the emergence of branded podcasts, and the country's strong economic growth. Advertisers in Thailand should continue to leverage these trends and tailor their campaigns to the local culture and language in order to effectively engage with the Thai 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 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, 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.