Market Insights Advertising & Media Advertising Audio Advertising

Digital Audio Advertising - Portugal

Portugal

Ad spending in the Digital Audio Advertising market in Portugal is forecasted to reach €16.16m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 3.66%, leading to a projected market volume of €19.34m by 2029.
With a projected market volume of €6,044.00m in 2024, most revenue is expected to be generated in Portugal.
In the Digital Audio Advertising market in Portugal, the number of listeners is forecasted to reach 2.4m users by 2029.
The average ad spending per user in the Digital Audio Advertising market in Portugal is projected to be €7.55 in 2024.
In the Digital Audio Advertising market in Portugal, 65% of total ad spending will be generated through mobile in 2029.
Portugal's digital audio advertising market is rapidly expanding, with a growing number of brands leveraging podcast sponsorships to reach their target audience.

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

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Analyst Opinion

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

Customer preferences: Portuguese consumers have shown a growing preference for digital audio platforms, such as music streaming services and podcasts, over traditional radio. This shift is largely driven by the convenience and personalization offered by digital audio, allowing users to access a wide range of content on-demand and customize their listening experience. Additionally, the rise of mobile devices has made it easier for consumers to access digital audio content anytime and anywhere.

Trends in the market: One of the key trends in the Digital Audio Advertising market in Portugal is the increasing use of programmatic advertising. Programmatic advertising allows advertisers to target specific audiences based on demographic, behavioral, and contextual data, enabling more precise and efficient ad placements. This trend is driven by the growing availability of data and advanced targeting capabilities offered by digital audio platforms, which allows advertisers to reach their desired audience with relevant and personalized messages. Another trend in the market is the rise of native advertising in digital audio. Native advertising seamlessly integrates branded content into the user's listening experience, providing a more organic and non-intrusive advertising format. This trend is driven by the desire to create a more engaging and immersive advertising experience that resonates with the audience. Additionally, native advertising allows advertisers to leverage the trust and loyalty of the digital audio platform's audience, increasing the effectiveness of their campaigns.

Local special circumstances: Portugal has a strong music culture, with a rich history of traditional Fado music and a vibrant contemporary music scene. This cultural affinity for music has contributed to the popularity of digital audio platforms in the country. Portuguese consumers are highly engaged with music streaming services and often use them as a primary source of music discovery and consumption. This presents a unique opportunity for advertisers to leverage the emotional connection that consumers have with music and create impactful and memorable advertising campaigns.

Underlying macroeconomic factors: The growth of the Digital Audio Advertising market in Portugal is also influenced by broader macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in increased consumer spending power. This has led to a higher demand for digital audio services and created a favorable environment for advertisers to invest in digital audio advertising. Additionally, the increasing penetration of smartphones and internet connectivity in Portugal has expanded the potential reach of digital audio platforms, further driving the growth of the market. Overall, the Digital Audio Advertising market in Portugal is experiencing significant growth due to changing customer preferences, the rise of programmatic and native advertising, local cultural factors, and favorable macroeconomic conditions. Advertisers in Portugal are increasingly recognizing the value of digital audio platforms in reaching and engaging with their target audience, and this trend is expected to continue in the coming years.

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.