Advertising - Baltics | Statista Market Forecast

Ad spending in the Advertising market in the Baltics is forecasted to reach US$803.90m in 2024.
The largest market within the Baltics is TV & Video Advertising with a market volume of US$258.10m in 2024.
When compared globally, the United States will lead in ad spending, projected to reach US$425.90bn in 2024.
Within the Advertising market, 67% of total ad spending in the Baltics will come from digital in 2030.
The average ad spending per capita in the TV & Video Advertising market is expected to be US$44.32 in 2024.
Moreover, Advertising market of the 82% revenue in the Baltics will be generated through programmatic advertising in 2030.
In the Baltics, digital advertising is rapidly growing, with a focus on programmatic buying and native advertising to reach tech-savvy audiences.

Definition:
Advertising spending refers to expenses for promotional strategies with which brands or businesses purchase advertising space to promote products or services. The primary purposes of advertising include creating awareness, generating interest, and persuading consumers to take a particular action such as purchasing a product, visiting a website, or supporting brands. Advertisers use advertising to reach their target audience while media companies and advertising agencies use it as a source of income.

Structure:
The advertising spending consists of two main channels (traditional advertising and digital advertising). Traditional Advertising refers to above-the-line media that delivers commercial messages to broad audiences. This includes mass media such as traditional TV, traditional radio, printed newspapers, printed magazines, and traditional out-of-home (OOH) advertising formats. Digital Advertising uses the internet to deliver marketing messages to internet users in various forms. This includes digital video, search engine, social media, digital out-of-home, digital banner, digital audio, digital classifieds, and influencer advertising.

Additional information:
The market comprises advertising spending, share by advertising channel, users, average revenue per user, advertising share by industry, ad spending by medium, and digital ad spending share (programmatic and non-programmatic). The market only displays B2B spending and users for the above-mentioned channels. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions for each market can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Traditional advertising such as non-digital ads for TV and radio, as well as out-of-home advertising and print advertising
Digital advertising such as online ads for video, banner, audio, classifieds, and search engines, as well as digital out-of-home, social media, in-app, and connected TV advertising
Influencer advertising

Sponsorships/events and promotion
Product placement
Commission-based affiliate systems

The Advertising market in Baltics has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing importance of digital advertising. Customer preferences in the Baltics have shifted towards online platforms and mobile devices, leading to a surge in digital advertising. Consumers are increasingly spending time on social media and streaming platforms, creating new opportunities for advertisers to reach their target audience. Additionally, the younger generation, which represents a large portion of the population in the Baltics, is more tech-savvy and receptive to digital advertising. Trends in the market indicate a shift from traditional forms of advertising, such as print and television, to digital channels. Advertisers are allocating a larger portion of their budgets to online advertising, as it offers more precise targeting capabilities and measurable results. This trend is expected to continue as more businesses recognize the effectiveness of digital advertising in reaching their desired audience. Local special circumstances in the Baltics also contribute to the growth of the advertising market. The region has a high internet penetration rate, with a large portion of the population having access to the internet. This provides a favorable environment for digital advertising, as advertisers can reach a wide audience online. Furthermore, the Baltics have a growing startup ecosystem, with many innovative companies emerging in the region. These startups often rely heavily on advertising to promote their products and services, driving demand in the market. The presence of these startups also fuels competition among advertisers, leading to increased advertising spending. Underlying macroeconomic factors, such as GDP growth and consumer confidence, also play a role in the development of the advertising market in the Baltics. As the economy grows and consumer spending increases, businesses are more willing to invest in advertising to attract customers and gain market share. Additionally, the Baltics have seen an increase in foreign direct investment, which has further contributed to the growth of the advertising market. In conclusion, the Advertising market in Baltics is experiencing growth due to changing customer preferences, the shift towards digital advertising, local special circumstances, and underlying macroeconomic factors. Advertisers are adapting to the evolving landscape by allocating more resources to online advertising, taking advantage of the high internet penetration rate and the growing startup ecosystem in the region. With the continued growth of the economy and increasing consumer spending, the advertising market in the Baltics is expected to thrive in the coming years.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising by businesses for traditional and digital advertisements.

Modeling approach:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights Global Survey). Next, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, consumer spending, and digital consumer spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year. In some cases, the data is updated on an ad-hoc basis (e.g., when new relevant data has been released or significant changes within the market have an impact on the projected development).

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

All advertising markets across the globe win, yet some win more than others. Ad spending worldwide reached almost 733 billion U.S. dollars in 2023, up less than three percent from the previous year. For comparison, in 2022, Switzerland ranked 20th among the leading economies by gross domestic product (GDP) with a result exceeding 800 billion dollars. Whereas global ad revenues concentrate in areas with either large populations or high purchase power – preferably both – their evolution depends on a larger set of indicators. It was forecast that, in 2024, South Asia will be the world's fastest-growing ad market, and the only out of nine with a double-digit increase rate: 12.1 percent. The second-placed region, comprising the United States and Canada, was projected to see its ad expenditure rise 7.6 percent.