Page 10 - bne_newspaper_November_23_2018

bne Chart
November 23, 2018 www.intellinews.com I Page 10
Explosive growth marks most CEE media markets in 2017
weCAN advertising agency
The Central and East European (CEE) advertising industry is growing at an astonishing pace, according to the CANnual Report 2018. While television is still the dominant media type in most countries of the region, digital, partly thanks to online videos, is catching up quickly. In Russia, the digital superpower of the region, advertisers spent €2.5bn last year on online advertising, which makes up 20% of the total ad spending of CEE.
weCAN, a network of independent advertising agencies in CEE, has just released the fourth edition of its annual publication called CANnual Report, which drills into how political, economic and social processes affect the local advertising industry and media landscape in 15 countries of the region. It includes figures and insights about Bosnia & Herzegovina, Bulgaria, the Czech Republic, Croatia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia and Ukraine.
Russia is the biggest media market in emerging Europe. Advertisers spent €2bn more in 2017 than they did the previous year, and the value of
the Central and Eastern European advertising market reached €13bn in 2017.
This increase is primarily generated by the Russian market that attained an explosive growth mainly thanks to the increase of digital advertising. Last year, this segment grew by €700mn in Russia, reaching €2.5bn, and making up 20% of the whole Central and Eastern European ad market. The example of the advertising industry demonstrates that the Russian digital market is improving at an astonishing pace.
Russian ad spending grew by 14% (in rubles) or €1.5bn, half of which went to digital. It was the highest growth rate that the local advertising market reached during the last three years, which elevated Russia from eighth to sixth position in the emerging Europe ranking.
In most countries, except for the Czech Repub- lic, Hungary and Lithuania, television continued to be the media type that swallowed up most advertising spending last year. Moreover,
the regional average of share by media