Market Insights Advertising & Media Advertising Audio Advertising

Digital Audio Advertising

United States

Ad spending in the Digital Audio Advertising market in the United States is forecasted to reach €6.11bn in 2024.
The market is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 7.05%, leading to a projected market volume of €8.59bn by 2029.
With a projected market volume of €6.11bn in 2024, the majority of revenue will be generated the United States.
By 2029, the number of listeners in the Digital Audio Advertising market is anticipated to reach 234.3m users.
The average ad spending per user in the Digital Audio Advertising market is estimated to be €32.98 in 2024.
In 2029, 80% of total ad spending in the Digital Audio Advertising market will be attributed to mobile.
In the United States, the surge in programmatic buying is reshaping the landscape of Digital Audio Advertising, offering targeted and efficient ad placement strategies.

Key regions: United States, France, India, Asia, Japan

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Analyst Opinion

The Digital Audio Advertising market in United States is experiencing significant growth and development due to several key factors.

Customer preferences: Customers in the United States are increasingly turning to digital audio platforms for their entertainment and information needs. With the rise of streaming services and the popularity of podcasts, consumers have more options than ever before for accessing audio content. This shift in customer preferences has created a ripe opportunity for advertisers to reach their target audience through digital audio advertising.

Trends in the market: One of the key trends in the Digital Audio Advertising market in United States is the increasing adoption of programmatic advertising. Programmatic advertising allows advertisers to target specific demographics and audience segments with precision, ensuring that their messages are delivered to the right people at the right time. This trend is driven by advancements in technology and data analytics, which enable advertisers to optimize their campaigns and achieve better results. Another trend in the market is the growing popularity of voice-activated devices, such as smart speakers. These devices have become a common feature in many households, providing a convenient way for consumers to access audio content. Advertisers are capitalizing on this trend by creating targeted audio ads that can be played on these devices. This allows advertisers to reach consumers in their homes, where they are most likely to engage with the content.

Local special circumstances: The United States has a highly developed digital advertising ecosystem, with a large number of platforms and publishers offering digital audio advertising opportunities. This competitive landscape has led to innovation and investment in the sector, driving the growth of the market. Additionally, the United States has a large and diverse population, providing advertisers with a wide range of target audiences to reach through digital audio advertising.

Underlying macroeconomic factors: The Digital Audio Advertising market in United States is also influenced by macroeconomic factors. The United States has a strong economy and high levels of consumer spending, which creates a favorable environment for advertising. Additionally, the United States has a high level of internet penetration and smartphone usage, making it easier for advertisers to reach consumers through digital channels. These factors contribute to the growth and development of the Digital Audio Advertising market in United States.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital audio advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers 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, media consumption, internet users, 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.