In contrast to the gloom enveloping advertising markets across the world, Russia’s ad industry is booming, judged by updated data released by the Russian Public Relations Group.
The nation’s advertising market was worth over $755 million in the first half of 2001, a 50% leap from the same term last year, says the RPRG. These findings tally with a separate survey from Gallup AdFact which noted a 76% rise from the second half of 2000.
“We can see a clear tendency. While Western markets show a significant slowdown, our national market [continues] to grow very rapidly,” commented Andrey Fedotov, the RPRG’s managing director.
Driving the buoyant ad market is television, with adspend more than doubling year-on-year from $215m to $450m in the six months to June. The second fastest growth came from outdoor advertising, leaping 40% from $65m to $90m.
The biggest spenders on advertising in the year to date are beer companies, car manufacturers and mobile telecoms firms, while non-consumer product giants such as Russy Aluminium and Lukoil have also raised their ad budget.
Russia is on course for full-year adspend well in advance of 2000’s $1.1 billion, itself a 40% jump on the year before.
News source: AdAge Global