AdMonitor reports rise in third quarter
The Russian advertising market shrank 30% from 184 billion rubles ($6.3 billion) to $4.3 billion in the first nine months of the year vs. the same period in 2008.
The TV advertising sector fell from $3.2 billion to $2.5 billion, according to ad agency Video Intl., but has recently shown signs of a return to growth.
Last week the AdMonitor agency reported that TV advertising for the third quarter was up 13.4% year on year, with 130,500 minutes of advertising.
Video Intl. and Gazprom Media, Russia’s two largest TV advertising agencies, are putting prices on hold for 2010. Both slightly reduced their prices this year to woo advertisers.
Analysts expect the overall ad market in the first half of 2010 to be worth much the same as this year — around $1.5 billion.