For the first time, total spending on Internet advertising in Russia was more than spending on television advertising.
Online spending from January to September 2017 amounted to between 115 and 116 billion rubles (approximately $2 billion), up by 23% from the previous year, according to a survey by the Association of Communication Agencies of Russia (ACAR) cited by the Vedomosti business daily.
For the first time, Internet advertising has caught up with spending on television ads that stood between 116 and 117 billion rubles in the reporting period and grew at a slower pace of 13%.
The total advertising market increased by 14% from the previous year to 285 billion rubles between January and September. In the third quarter alone, the market grew by 16% from last year.
In the third quarter, 41 billion rubles were spent on Internet advertising, beating the 36.5 billion rubles spent on television promotion.
This year the media communication market in Russia could peak at an all-time high of 400 billion rubles, the head of ACAR Alexei Kovylov told Vedomosti. The 14% market growth is the fastest since 2011.
This article was original published on EWDN by bneIntelliNews on November 14, 2017