Industry insiders see ad revenue falling by around one-third
Advertising industry insiders expect the market to shrink about one-third this year, state news wire MTI reports, citing a survey by the Hungarian Advertising Association (MRSZ).
The survey respondents augur a decline in overall ad industry revenues, including from direct marketing, PR and events, to HUF 306.9 billion this year from HUF 468.0 bln in 2019.
They project revenue generated by the media advertising segment, including digital media, TV, the press, radio, cinema, and outdoor ads, will fall to HUF 170.5 bln this year from HUF 245.1 bln in 2019.
Digital media accounted for 41.5% of media advertising revenue last year, while TV made up 26.6% and the press 16.8%.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.