Russian Advertising Revenue Falls 17%
- New Europe Investor
- May 07, 2015
As economic uncertainty continues, it has emerged that Russian advertising revenue fell 17% in the first quarter of 2015 compared to the same period last year.
The total amount spent on advertising in Russia for the first three months of this year came to 63.5 billion rubles (€1.57 billion).
The fall was revealed in a report from the Russian Association of Communication Agencies (ACAR).
Within the report, ACAR stated that television revenues declined by 22% and radio revenues fell 25%.
Worst hit was the print media, which saw a 34% decline in revenues.
In what perhaps represents a structural change in the advertising market, internet revenues bucked the overall trend. This saw a 16% increase with 13.2 billion rubles (€230 million) spent online.
Despite recent oil price increases, central bank interest rate cuts and relative ruble stablisation, Russia is still expected to enter recession this year.
During times of economic uncertainty, advertising budgets are often among the first to see reductions.
This has been clearly displayed in figures coming out of Russia this week.