Despite the problems experienced in the domestic advertising market, 2023 was the most successful year of the last fifteen years for the sector. This conclusion was reached by experts from the Association of Communications Agencies of Russia (ACAR), who evaluated the size of the marketing communications market in the country last year.
The association noted that experts used a new evaluation methodology when calculating the volume of the advertising market in Russia for 2023. There was no traditional TV, internet, radio, print or outdoor advertising. Instead, video, voice, broadcasting, Out-of-Home and Internet services were evaluated.
Experts calculated that at the end of last year, the total advertising volume across all means of distribution reached 731 billion rubles, an increase of 30% compared to the same period last year.
The volume of the video segment (TV + Online video) increased by 20% last year compared to 2022, reaching 231.5 billion rubles. Voice – by 32%, to 20.2 billion rubles, of which 19.5 billion rubles are radio.
According to experts, the publishing industry increased its figures by 10% to 25.4 billion rubles. The Out of Home segment grew by 41%, reaching 67.1 billion rubles. In particular, in 2023, the volume of the outdoor advertising market increased by 38% to 57.7 billion rubles. Internet services also increased by 37% to 386.6 billion rubles.
The association reports that the total volume of the Russian marketing communications market in 2023 is about 1.7 trillion rubles, which is actually a third more than a year ago.