MOSCOW, November 28. /TASS/. Advertising in Russian media declined by about 6% year-on-year during the first three quarters of this year to somewhere in the neighborhood of 380-385 bln rubles ($6.18-6.26 bln), the board of the Russian Association of Communication Agencies (RACA) said on Monday.
"The total advertising volume in its distribution media stood at 380-385 bln rubles, which is approximately 6% less than in the like period from last year," the Association said.
The domestic regional advertising market, excluding Moscow, contracted by 5% across the four segments of TV, radio, press and outdoor advertising to about 26-27 bln rubles ($422.6-438.8 mln).
The dynamics of the three quarters of this year differed from each other, experts said. The majority of media segments showed positive growth in the first quarter. The second quarter saw a huge downturn, with a double-digit decline in volumes in almost all segments. The situation improved in the third quarter. The market is still in the red but the scale of the decline has become much smaller, the Association said. Some segments managed to perform positively.
"The overall drop in media volume in the advertising market was about 7% against 16% in the second quarter, RACA experts believe," the report said. The situation in the regional advertising market improved dramatically and the market gained 6% in the third quarter, while tumbling 19% in the second one.
The board elected not to give detailed information with figures being broken down by individual segments and regions, just as when posting the Russian advertising market’s performance in the first half of 2022. "This was done deliberately and voluntarily, so as not to delude the industry. RACA experts believe they will manage to solve this problem upon stabilization of the situation and a full-fledged picture of the entire domestic advertising market will be presented by the end of the year," the Association noted.