Advertising - Lithuania | Statista Market Forecast

Ad spending in Lithuania's Advertising market is forecasted to reach US$361.40m in 2024.
The largest market withLithuania is TV & Video Advertising with a market volume of US$126.50m in 2024.
In global comparison, most ad spending will be generated the United States (US$425.90bn in 2024).
Within Lithuania's Advertising market, 59% of total ad spending will be generated through digital in 2030.
The average ad spending per capita in the TV & Video Advertising market is projected to amount to US$46.96 in 2024.
Within Lithuania's Advertising market, Advertising market of the 73% revenue will be generated through programmatic advertising in 2030.
Lithuania's advertising market is experiencing a shift towards digital platforms, with a focus on targeted online campaigns to reach specific audiences effectively.

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 Lithuania has been experiencing significant growth in recent years, driven by changing customer preferences and the emergence of new trends in the market. Customer preferences in Lithuania have shifted towards digital advertising, with a growing number of consumers accessing information and entertainment through online platforms. This has led to an increased demand for digital advertising services, as businesses seek to reach their target audience through online channels. Additionally, there has been a rise in the use of social media platforms, which has further fueled the demand for digital advertising. Trends in the market indicate a shift towards programmatic advertising, which uses automated technology to buy and optimize ad placements. This allows advertisers to target specific audience segments more effectively and optimize their ad spend. Programmatic advertising has gained popularity in Lithuania due to its efficiency and ability to deliver personalized messages to consumers. Another trend in the advertising market in Lithuania is the increasing focus on mobile advertising. With the widespread use of smartphones and mobile devices, advertisers are recognizing the importance of reaching consumers on these platforms. Mobile advertising offers unique opportunities for targeting and engaging with consumers, and advertisers are investing in mobile ad campaigns to capitalize on this trend. Local special circumstances in Lithuania also contribute to the development of the advertising market. The country has a highly educated workforce and a strong technology infrastructure, which provides a conducive environment for the growth of digital advertising. Additionally, Lithuania has a relatively small population, which allows advertisers to target specific market segments more effectively. Underlying macroeconomic factors also play a role in the development of the advertising market in Lithuania. The country has experienced steady economic growth in recent years, which has led to increased consumer spending and business investment. This has created a favorable environment for advertising, as businesses allocate more resources towards marketing and promotion to capitalize on the growing consumer demand. In conclusion, the Advertising market in Lithuania is developing rapidly, driven by changing customer preferences, the emergence of new trends, local special circumstances, and underlying macroeconomic factors. The shift towards digital advertising, particularly programmatic and mobile advertising, reflects the changing media consumption habits of consumers. The favorable business environment and strong technology infrastructure in Lithuania provide a conducive environment for the growth of the advertising market.

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.