Online advertising spending surpassed print advertising for the first time in 2011, the Russian Association of Communication Agencies (AKAR) annnouced in its annual report, published this week.
According to the report, the Russian online advertising market reached $1.4 billion, up 56% from 2010, demonstrating the fastest growth among the different segments of the market. In 2010, online advertising spending had grown by 42%.
Print advertising represented $1.36 billion in 2011, up 6% from 2010, while TV advertising grew by 18% to $4.4 billion. Total advertising spending increased by 21% to $8.85 billion, an impressive growth rate despite a slowdown in Q4.
Based on its financial results released yesterday, Yandex continued to dominate the market with its advertising revenues reaching 20.03 billion rubles, approximately $667 million. This accounted for almost one half of the total online advertising spending in the country. The search giant’s contextual advertising activity covered two thirds of the market, generating 17.5 billion rubles, approximately $584 million.
eMarketer estimated that global advertising spending totaled an approximate $500 billion in 2011. For online advertising specifically, the global advertising market is believed to have reached $80.2 billion in 2011, up 17.2% from 2010.
This post was originally published by East-West Digital news. ArcticStartup has a partnership with the site and does content exchange and collaboration to bring you more coverage to and from Russia.
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