Out-of-Home Advertising - Bulgaria

Bulgaria is expected to see ad spending in the Out-of-Home Advertising market reach US$25.08m in 2024.
The largest market in Bulgaria is Traditional Out-of-Home Advertising with a market volume of US$19.73m in 2024.
When compared globally, most ad spending is projected to be generated United States (US$9.34bn in 2024).
The average ad spending per capita in the Out-of-Home Advertising market in Bulgaria is forecasted to amount to US$3.79 in 2024.
Bulgaria's Out-of-Home Advertising market is embracing digital innovation, with dynamic content and interactive features becoming increasingly popular in urban centers.

Definition:
Out-of-Home (OOH) Advertising refers to any advertising in public areas. OOH Advertising includes all ad spending on large formats (e.g., billboards), street furniture (e.g., bus shelters), transit and transportation (e.g., bus and commuter rail displays), and place-based media (e.g., traditional ambient media at the point of sale). Out-of-Home Advertising is divided into two markets: Traditional OOH Advertising and Digital OOH Advertising.

Structure:

The Traditional Out-of-Home Advertising market refers to all revenues from advertising in traditional (physical) out-of-home media. The content in this market only refers to non-digital revenues.
Digital Out-of-Home Advertising refers to all revenues generated from internet-connected out-of-home advertisements. The content in this market only refers to digital revenues.

Additional information:
Out-of-Home (OOH) Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions of Traditional Out-of-Home (OOH) Advertising and Digital Out-of-Home (DOOH) Advertising can be found on the respective pages. Key players in Out-of-Home Advertising include JCDecaux, Ströer, Focus Media Information, Hakuhodo, Dentsu, Clear Channel Outdoor, and APG SGA. For more information on the data displayed, use the info button right next to the boxes.

Traditional & digital billboards
Traditional & digital street furniture
Traditional & digital transit & transportation
Traditional & digital place-based media

Movie theater advertising
Event- and promotion-media

The Out-of-Home Advertising market in Bulgaria has been experiencing steady growth in recent years, driven by changing customer preferences and a favorable local business environment. Customer preferences in Bulgaria have shifted towards outdoor advertising due to its ability to reach a wide audience and create a lasting impact. With the increasing use of smartphones and other digital devices, people are spending more time outside their homes, making out-of-home advertising a highly effective way to engage with consumers. Additionally, the rise of social media and influencer marketing has created a demand for visually appealing and shareable content, further driving the popularity of out-of-home advertising. Trends in the market show a shift towards digital out-of-home advertising formats, such as digital billboards and interactive displays. These digital formats offer greater flexibility and creativity in terms of content delivery, allowing advertisers to target specific audiences and change their messaging in real-time. The advancements in technology have also made it easier for advertisers to measure the effectiveness of their campaigns and optimize their strategies accordingly. Local special circumstances in Bulgaria, such as the country's growing tourism industry and the increasing number of international events and conferences hosted in the country, have contributed to the development of the out-of-home advertising market. Advertisers are leveraging these opportunities to reach both domestic and international audiences, promoting their products and services to a diverse range of consumers. Underlying macroeconomic factors, such as Bulgaria's stable economic growth and increasing disposable income levels, have also played a role in the development of the out-of-home advertising market. As the economy continues to improve, businesses are investing more in advertising to expand their reach and gain a competitive edge. This has led to an increase in demand for out-of-home advertising services, driving the growth of the market. In conclusion, the Out-of-Home Advertising market in Bulgaria is developing due to changing customer preferences, the adoption of digital technologies, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, advertisers will need to stay ahead of the latest trends and leverage the unique opportunities offered by the Bulgarian market to effectively engage with their target audience.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on out-of-home (OOH) advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional out-of-home advertising (offline out-of-home advertisements) and digital out-of-home advertising (internet-connected out-of-home advertisements).

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. 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) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, urban population, and internet infrastructure.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, 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 case market dynamics change.

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

When consumers take a break from smartphones, connected TVs, and computer screens, outdoor advertising is often there, promoting products and services on billboards and transit displays. Still, out-of-home (OOH) channels have also gone increasingly digital – today, online and programmatic solutions drive the industry's expansion worldwide. Mid-2023 estimates indicated that static OOH could barely grow half as fast as the digital OOH (or DOOH) subsegment between 2023 and 2025.