Market Insights Advertising & Media Advertising Audio Advertising

Traditional Radio Advertising - Thailand

Thailand

Ad spending in the Traditional Radio Advertising market in Thailand is forecasted to reach €121.60m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of -1.84%, leading to an estimated market volume of €110.80m by 2029.
Within the Traditional Radio Advertising market in Thailand, the number of listeners is projected to reach 20.2m users by 2029.
The average ad spending per radio listener in the Traditional Radio Advertising market in Thailand is expected to be €6.09 in 2024.
Traditional radio advertising in Thailand is experiencing a resurgence due to its ability to reach a diverse audience in both urban and rural areas.

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

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Analyst Opinion

The Traditional Radio Advertising market in Thailand has been experiencing significant growth in recent years.

Customer preferences: Thailand is a country with a rich cultural heritage and a strong sense of community. Traditional radio is deeply ingrained in Thai culture, and many people still rely on it as a primary source of information and entertainment. This has created a strong demand for radio advertising among the Thai population. Additionally, the Thai language is widely spoken and understood, making radio an effective medium for reaching a large audience.

Trends in the market: One of the key trends in the Traditional Radio Advertising market in Thailand is the increasing use of digital technology. Many radio stations now offer online streaming services, allowing listeners to tune in from anywhere in the country. This has expanded the reach of radio advertising, as advertisers can now target listeners in different regions of Thailand. Furthermore, digital technology has enabled more accurate audience measurement and targeting, allowing advertisers to optimize their campaigns and increase their return on investment. Another trend in the market is the rise of niche radio stations. In addition to the mainstream radio stations, there has been a proliferation of specialized stations catering to specific interests and demographics. This has opened up new opportunities for advertisers to reach niche audiences and tailor their messages accordingly. For example, there are now radio stations dedicated to music genres such as hip-hop, rock, and classical, as well as stations targeting specific age groups, such as youth or the elderly.

Local special circumstances: Thailand has a highly competitive media landscape, with a wide range of advertising options available to businesses. However, traditional radio advertising continues to hold its own due to its unique advantages. Radio is a cost-effective medium, making it accessible to businesses of all sizes. Additionally, radio advertising allows for a high frequency of exposure, as listeners often tune in for extended periods of time. This can be particularly effective for building brand awareness and driving customer engagement.

Underlying macroeconomic factors: Thailand's economy has been steadily growing in recent years, which has contributed to the growth of the Traditional Radio Advertising market. As the economy expands, businesses have more resources to invest in advertising and marketing. Additionally, the growing middle class in Thailand has increased consumer spending power, creating a larger market for advertisers to target. These macroeconomic factors have created a favorable environment for the development of the Traditional Radio Advertising market in Thailand.

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.