The online advertising market in Russia was estimated at $260 million in 1H 2008, up 73% from 1H 2007, according to a report from MindShare Interaction. The contextual advertising accounted for $161 million or 62% of total online advertising spending, while display advertising accounted for $99 million (38%) of total online spending.
The online display advertising was up 57% from previous year. The business daily Kommersant reported top 10 online display advertisers in Russia. The list included Ford Motor Co. ($4.6m), MTS ($2.5m), Megafon ($2.3m), General Motors ($2m), VimpelCom ($1.9m), Peugeout Citroen ($1.6m), Nissan ($1.5m), Samsung ($1.3m), Honda ($1.2m), and Procter & Gamble ($1.1m). It is estimated that the car manufacturers in Russia invested up to 20% of their advertising budget into online advertising while, on average, the advertisers invested about 3.5% of their advertising budget into online advertising in Russia.
The Russian online advertising spending will reach more than $600 million in 2008, estimates MindShare Interaction.