ZAGREB, June 9, 2018 - According to estimates by the Croatian Association of Communications Agencies (HURA), last year advertisers invested 1.47 billion kuna in advertising space, which was a drop of 1.4% compared to 2016 and the first time it decreased after four years and can be mainly attributed to the consequences of the Agrokor crisis.
These are HURA's conclusions following an analysis entitled “HURA Media AdEx” (Advertising Expenditure), which analysed leasing of advertising space through the main communication channels, and is about analysing investments in advertising on main TV stations, larger press companies and their internet editions.
The advertising market decreased last year after four years of growth and can mostly be attributed to the crisis in the ailing Agrokor food and retail chain which accounts for 8-9% of the total advertising market, HURA said.
Fifty percent of the advertising pie refers to TV ads and the most money in advertising is in fact spent on TV ads. In 2017, 741 million kuna was spent on advertising space on TV, which was a drop of 2.2% compared to 2016.
The analysis shows that on-line advertising is continuing to grow while advertising in the print press is on the decline. Estimated 245 million kuna was spent on online advertising last year, which was 14.5% more than the year before that and accounted for 17% of all advertising.
On the other hand, expenditure for ads in the print press amounted to 218 million kuna or 13.3% less than in 2016, and accounted for 15% of advertising activities.
