Market Insights Advertising & Media Advertising Audio Advertising

Traditional Radio Advertising - Ireland

Ireland

Ad spending in the Traditional Radio Advertising market in Ireland is forecasted to reach €82.32m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -4.42%, leading to a projected market volume of €65.66m by 2029.
Within the Traditional Radio Advertising market in Ireland, the number of listeners is predicted to reach 3.2m users by 2029.
The average ad spending per radio listener in the Traditional Radio Advertising market in Ireland is estimated to be €26.39 in 2024.
Ireland's Traditional Radio Advertising market is experiencing a resurgence due to its ability to reach a wide audience with targeted messaging.

Key regions: Australia, United Kingdom, China, Japan, Europe

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Analyst Opinion

The Traditional Radio Advertising market in Ireland has been experiencing steady growth in recent years.

Customer preferences: Despite the rise of digital advertising platforms, traditional radio advertising continues to be a popular choice among advertisers in Ireland. This can be attributed to the fact that radio has a wide reach and is a trusted source of information and entertainment for many Irish consumers. Additionally, radio advertising offers a more personal and intimate connection with listeners, as it is often consumed in the home or car.

Trends in the market: One of the key trends in the Irish Traditional Radio Advertising market is the increasing use of targeted advertising. Radio stations are now able to collect and analyze data on their listeners, allowing advertisers to tailor their messages to specific demographics and interests. This level of targeting not only improves the effectiveness of radio advertising campaigns, but also provides advertisers with valuable insights into their target audience. Another trend in the market is the integration of digital technology into traditional radio advertising. Many radio stations in Ireland now offer online streaming services, podcasts, and interactive features, allowing advertisers to reach listeners across multiple platforms. This integration of digital technology has expanded the reach and impact of radio advertising, making it a more versatile and effective marketing tool.

Local special circumstances: The Irish Traditional Radio Advertising market is unique in that it is dominated by a few major players. There are a limited number of national and regional radio stations in Ireland, which means that advertisers have to compete for limited airtime. This has led to increased competition and higher advertising rates, particularly during peak listening times.

Underlying macroeconomic factors: The growth of the Traditional Radio Advertising market in Ireland can be attributed to several underlying macroeconomic factors. Firstly, Ireland has experienced strong economic growth in recent years, leading to increased consumer spending and business investment. This has created a favorable environment for advertising, as companies look to promote their products and services to a growing consumer base. Additionally, Ireland has a young and tech-savvy population, which has contributed to the growth of digital media consumption. However, despite the rise of digital platforms, traditional radio remains a popular choice among Irish consumers. This can be attributed to the personal and intimate nature of radio, as well as the fact that it is often consumed in the home or car. In conclusion, the Traditional Radio Advertising market in Ireland is experiencing steady growth, driven by customer preferences for a trusted and personal advertising medium. The integration of digital technology and targeted advertising has further enhanced the effectiveness of radio advertising campaigns. However, the market is also characterized by limited airtime and increased competition, which has led to higher advertising rates. Overall, the growth of the Traditional Radio Advertising market in Ireland can be attributed to a combination of strong macroeconomic factors and unique local circumstances.

Methodology

Data coverage:

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

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use industry association reports, third-party reports, 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, population, media consumption, internet users, and 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.