10.43 Europe/London, September 12, 2011 By Chris Dziadul

Russia’s TV advertising market is recovering strongly and could grow by an average of 20% next year to R150.7 billion (€3.67 billion), according to Video International (VI), one of the leading sellers of commercial airtime.

However, even this, according to Kommersant, is a cautious prediction as it takes into account budget cuts by key advertisers.

VI expects TV spend in the first three quarters of this year to grow by 25% to R86.66-88 billion and total TV ad spend for the year to be R131 billion (+20%).

Growth in the second half of the year is nevertheless likely to be slower than in the first.

Although Gazprom-Media, which with Alcazar sells airtime for NTV, TNT and TV Center, does not agree with VI’s predictions, it believes growing demand for better placement will lead to higher costs.