Page 95 - RusRPTSept19

9.1.7 TMT sector news
Russia's largest advertising groups saw their budgets and turnover decline by 4.5% on average in 2018, Vedomosti daily reported on August 7 citing the study of Sostav.ru and the Association of Communication Agencies of Russia (AKAR). Six out of ten largest advertising groups saw the budgets from their clients shrink by 1.4% to 31%. The market is also getting more fragmented, as in 2015 the ten largest players accounted for 90% of all advertising budgets. In 2018 this dropped to less than a half. The fast decline
95 RUSSIA Country Report September 2019 www.intellinews.com