Serbia is worlds fastest growing ad market
Between 2006 and 2009 the advertising market in Serbia will grow 308%, faster than all other countries. A new forecast raises to 18.3% this years’ ad growth in Central and Eastern Europe from 16.9%.
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The media situation in Serbia hasn’t changed much. “We are seven years in this (transition) period in Serbia and we can say that we are half way through,” said OSCE Head of Mission in Serbia Hans Ola Urstad in a recent interview. “A lot more has to be done and it will be done,”
ZenithOptimedia released its latest ad market forecasts (October 1) and listed the top ten fastest growing markets. All are in developing economies. One – Romania – is a European Union member, ranked 10th. Fast moving consumer goods (FMCG) advertising, which prefers television, is the growth engine.
In February AGB Nielsen estimated ad spending in Serbia at €140 – 150 million, €85 – 90 million in television, about 60%. "High viewership (in Eastern Europe) is sucking advertising revenue into the industry and fueling expansion, production and programming purchases,” said Daily Variety a few weeks ago in an article following the Budapest Discop conference.
Top ad growth is not entirely in Central and Eastern Europe. Qatar placed number two in the forecast rankings, expected to grow 214% by 2009. Egypt and the UAE ranked number 4 and 5, respectively. The ad market in Kazakhstan is projected to increase 164%, ranking number three, to €1.22 billion ($1.72 billion).
Russia (#6) and three countries on its borders – Ukraine (#7), Moldova (#8) and Belarus (#9) – round out the top ten.
“These are still small advertising markets, but they are underdeveloped and there is room for significant growth,” said the ZenithOptimedia report.
Projected worldwide advertising expenditures for the next three years will get a boost from sports: the Beijing Olympics, Euro 2008 football and the US presidential elections: €321.2 billion ($453.3 billion) this year, €342.8 billion ($483.8 billion) in 2008 and €362.7 billion ($511.8 billion) in 2009. - Michael Hedges October 6, 2007
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