Market Insights Advertising & Media Advertising Audio Advertising

Digital Audio Advertising - New Zealand

New Zealand

Ad spending in the Digital Audio Advertising market in New Zealand is forecasted to reach €12.88m in 2024.
The expected annual growth rate (CAGR 2024-2029) is 2.40%, leading to a projected market volume of €14.50m by 2029.
With a projected market volume of €6,107.00m in 2024, the majority of revenue will be generated the United States.
In New Zealand's Digital Audio Advertising market, the number of listeners is anticipated to reach 1,073.0k users by 2029.
The average ad spending per user in the Digital Audio Advertising market is estimated to be €19.05 in 2024.
In the Digital Audio Advertising market of New Zealand, 65% of total ad spending will be generated through mobile in 2029.
New Zealand's digital audio advertising market is experiencing rapid growth, with increased investment from local businesses and a shift towards programmatic buying strategies.

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

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Analyst Opinion

The Digital Audio Advertising market in New Zealand is experiencing significant growth and development. Customer preferences are shifting towards consuming audio content on digital platforms, driving the demand for digital audio advertising. This trend is influenced by various factors, including the increasing popularity of music streaming services and the widespread use of smartphones.

Customer preferences: Customers in New Zealand are increasingly turning to digital platforms for their audio consumption. Music streaming services have gained immense popularity, offering users access to a vast library of songs and personalized playlists. This shift in consumer behavior has created a lucrative opportunity for advertisers to reach their target audience through digital audio advertising. Furthermore, the convenience and portability of smartphones have made it easier for people to access audio content on the go, further driving the demand for digital audio advertising.

Trends in the market: One of the key trends in the digital audio advertising market in New Zealand is the rise of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of ad inventory, enabling them to reach their target audience more efficiently and effectively. This trend is driven by the increasing availability of data and advanced targeting capabilities, which enable advertisers to deliver personalized and relevant ads to their audience. Additionally, the use of programmatic advertising can help advertisers optimize their ad spend and maximize their return on investment. Another trend in the market is the integration of digital audio advertising with other forms of digital advertising. Advertisers are increasingly adopting a multi-channel approach, combining digital audio advertising with display, video, and social media advertising to create a cohesive and integrated marketing campaign. This trend is driven by the need to reach consumers across multiple touchpoints and engage them through different mediums. By integrating digital audio advertising with other forms of digital advertising, advertisers can create a unified brand experience and increase their overall reach and impact.

Local special circumstances: New Zealand has a strong music culture, with a high proportion of the population being music enthusiasts. This cultural aspect creates a favorable environment for digital audio advertising, as people are more likely to engage with audio content and be receptive to audio advertisements. Additionally, the relatively small population of New Zealand allows advertisers to target their audience more effectively and efficiently, resulting in higher engagement and conversion rates.

Underlying macroeconomic factors: The growing digital audio advertising market in New Zealand is also influenced by underlying macroeconomic factors. The country has a stable and growing economy, which provides a favorable business environment for advertisers. Furthermore, the high internet penetration rate and increasing smartphone adoption in New Zealand contribute to the growth of the digital audio advertising market. These factors create a conducive environment for advertisers to invest in digital audio advertising and reach their target audience effectively.

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.