Advertising market in Russia fell 6% in three quarters

Such data are given in the report of the Association of Communication Agencies of Russia (AKAR).

The total amount of advertising costs in the first three quarters of 2022 amounted to 385 billion rubles, which is 6% less than in the same period of the previous year.

The AKAR report says that for internet advertising, the largest market segment, in the third quarter “the least pessimistic scenarios were realized”.

On TV there is a “significant increase in the number of new local advertisers” and there have been changes in the top three categories at federal TV: according to the results of nine months, the e-commerce category (18%) came out on top in terms of the share of the budget, shifting the pharmaceuticsto the second place (17%). The third place is still occupied by the segment of insurance and financial services (15%).

Outdoor advertising for three quarters “managed not only to recover to the level of 2021, but also show small growth”, the AKAR report says. Sales of digital structures as a whole accounted for more than a third of all budgets. Radio advertising market continues recovery and “has been less vulnerable to the departure of foreign brands”.

Structural transformation of the Russian economy is not easy, it is difficult and not fast. It was also the turn of the advertising market to face restructuring, the economist, Associate Professor of the RANEPA Sergey Khestanov, emphasizes.

“Russia has a high share of the state in the economy, and many industries work in conditions far from market terms. Advertising market (except for the so-called social advertising), on the contrary, is highly dependent on market conditions. Therefore minus 6% is a very good estimate of the landing of the market share of the Russian economy, – the expert is sure. 6% – the decline is still moderate. But also structural transformation is far from over”.

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