The Russian advertising market was valued at $5.2 billion in the first half of 2008, up 20% from 2007, according to the Russian Association of Communication Agencies (RACA). The market growth is slowing down for the first time since 2000.
The business daily Kommersant reported that the advertising market in Moscow is becoming saturated while the regional markets continue to show strong growth in ad spending.
Advertising on TV reached $2.7 billion, up 26% from 2007 while the advertising in print media was $1.1 billion, up 12% from 2007. The fastest growing advertising market segment was display Internet advertising, which was up 45% from 2007, said RACA. According to MindShare Interaction, the Russian online advertising market (including contextual advertising) was valued at $260 million in 1H 2008, up 73% from 2007.