The Hungarian Advertising Association (MRSz), with its partner associations, presented Hungaryʼs so-called "advertisement cake" for 2018 at the Evolution conference, revealing that advertising expenditures reached HUF 259.69 billion last year.
Compared to 2017, this represents a 7.77% increase, somewhat slowing down from the over 11% rate in 2017 and 2016, according to a press release sent to the Budapest Business Journal.
"The dynamic of last yearʼs ad spending slowed down, so it can be clearly seen that the market segmentʼs advertising income is responsible for the larger part of the growth, as the massive and strong state investment of earlier years stagnated in 2018," said János Gulyás, president of the association.
In the 2018 "cake," each media type kept its position achieved in the last two years, and every single type was able to achieve an increase.
The online segment, the largest market player, increased its share in the cake from 31.71% to 33.57%. The largest increase was registered by the outdoor segment (growing by 16.28% since 2017), followed by cinema (up 15%), and the digital market (up 13.98%). The radio ad market grew by 9.51%. The growth of all other segments stayed below 5%.