Investments in media advertising space have fallen by more than 150 million kuna, or 10 percent compared to the previous year, and nearly 40% compared to the last pre-crisis year of 2008, announced the Croatian Association of Market Communication Agencies (HURA).
In 2012, the decline in spending continued in print media and radio advertising, with the smallest decline recorded in outdoor advertising at 4 percent. The largest portion of the media budget, amounting to 702 million kuna or 48 percent, was spent on television, but this volume is also declining. Growth was only recorded in online advertising, which increased by 8 percent compared to 2011. The largest investments on the internet were in display ads and search, accounting for as much as 87 percent.
In 2012, the telecommunications and banking sectors recorded the largest decline in advertising investments, averaging -15 percent. The consumer goods and retail sectors also reported a decline, while investments in the pharmaceutical sector grew by approximately 10 percent.
– The trend of declining investments in media has continued for the fifth consecutive year. The reason for this is the continuous decline in GDP and the absence of economic recovery, which has also affected the advertising industry. According to data from the first five months of this year, the negative trend is still present, but the good news is that the decline has slowed. By the end of the year, the figures could approach last year’s, which would be a good indicator for the coming years – stated Rajna Cuculić, a member of the HURA Management Board.
