Bulgarian ad market set to tumble

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Bulgarian ad market set to tumble

TV ad spend in Bulgaria is likely to amount to BGN225 million (€115 million) this year providing there is no further lockdown.

According to figures produced by the Bulgarian Association of Communication Agencies (BACA) and published by Capital, this compares to BGN260 million in 2019, which was in turn 8% higher than a year earlier.

Although total ad spend in 2019 was nearly BGN462 million, it is expected to fall by 10% this year, or the level recorded in 2018.

Capital adds that although investment in digital media is growing significantly in Bulgaria and accounted for 26% of the total in 2019 (up 25% on the previous year), cost of internet advertising per capital is among the lowest in Europe, amounting to only €7.2 in 2018.