Russia’s TV ad spend slumped by 22% year on year to R30.1 billion (€530.7 million) in the first quarter, according to data published by the Association of Communication Agencies of Russia (AKAR).
Kommersant reports that advertising on terrestrial channels amounted to R29.8 billion (-21%), while the cable and satellite segment accounted for only R0.34 billion (-59%). Of all media, only the internet showed any growth, up by 9% year-on-year to R18.1 billion.
Although the ad market as a whole fell by 17% year-on-year to R63.5 billion, it performed better than during the economic crisis of 2008/9, when it slumped by 29% in Q1 2009.
It is now expected to contract by 17% this year.