Traditional Out-of-Home Advertising - Bulgaria

Bulgaria is expected to see ad spending in the Traditional Out-of-Home Advertising market reach US$19.73m in 2024.
The market is forecasted to experience an annual growth rate (CAGR 2024-2030) of 3.19%, leading to a projected market volume of US$23.83m by 2030.
In 2024, the average ad spending per capita in the Traditional Out-of-Home Advertising market is projected to be US$2.98.
Bulgaria's Traditional Out-of-Home Advertising market is embracing digital transformation to enhance engagement and reach in urban centers like Sofia.

Definition:
Traditional Out-of-Home (OOH) Advertising refers to all advertising revenues generated by traditional (physical) out-of-home media in public areas. The Traditional Out-of-Home Advertising market includes all ad spending on large outdoor formats, street furniture, transit and transportation, and others.

Additional information:
Traditional 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. Key players in Traditional 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 billboards (bulletins, large banners, inflatable billboards)
Traditional street furniture (advertising columns)
Traditional transit & transportation (traditional indoor and outside advertising in and on vehicles used for public transportation)
Traditional place-based media (e.g. traditional ambient media at point of sale, posters in restrooms)

Digital billboards (city-light boards)
Digital street furniture (city-light posters, city-light posters)
Digital transit & transportation (digital advertising in and on vehicles used for public transportation)
Digital place-based media (digital ambient media at point of sale)
Event- and promotion-related media

The Traditional Out-of-Home Advertising market in Bulgaria has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances.

Customer preferences: In Bulgaria, customers still value traditional out-of-home advertising methods such as billboards, posters, and street furniture. These forms of advertising provide a visible and impactful way to reach a wide audience. Additionally, customers appreciate the creativity and eye-catching designs that are often associated with traditional out-of-home advertising. This preference for traditional methods is also influenced by the fact that many Bulgarians spend a significant amount of time outdoors, making outdoor advertising an effective way to reach them.

Trends in the market: One of the key trends in the Traditional Out-of-Home Advertising market in Bulgaria is the increasing use of digital technology. Digital billboards and screens are becoming more common, allowing advertisers to display dynamic and interactive content. This trend is driven by advancements in technology and the desire to capture the attention of a tech-savvy audience. Digital out-of-home advertising offers the flexibility to change content quickly and target specific audiences, making it a popular choice among advertisers. Another trend in the market is the integration of traditional out-of-home advertising with other marketing channels. Advertisers are increasingly using a multi-channel approach to reach their target audience. For example, billboards may be used in conjunction with social media campaigns or mobile advertising to create a cohesive and impactful message. This trend reflects the changing media landscape and the need for advertisers to adapt to new ways of reaching consumers.

Local special circumstances: Bulgaria's geographic location and population density also contribute to the development of the Traditional Out-of-Home Advertising market. The country has a relatively small population compared to other European countries, which means that advertisers can reach a large percentage of the population through outdoor advertising. Additionally, Bulgaria has a strong tourism industry, attracting visitors from around the world. This presents an opportunity for advertisers to target both local residents and tourists with their out-of-home campaigns.

Underlying macroeconomic factors: The growth of the Traditional Out-of-Home Advertising market in Bulgaria is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to increased consumer spending and business investment. This has created a favorable environment for advertisers, as companies are more willing to allocate budget towards advertising and promotion. Additionally, Bulgaria's membership in the European Union has opened up opportunities for foreign companies to invest in the country, further driving the demand for out-of-home advertising. Overall, the Traditional Out-of-Home Advertising market in Bulgaria is developing in response to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Advertisers are leveraging the power of traditional out-of-home advertising methods while incorporating digital technology and multi-channel strategies to effectively reach their target audience. With a growing economy and a favorable business environment, the market is expected to continue its positive trajectory in the coming years.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on traditional out-of-home advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers offline out-of-home advertisements such as billboards, street furniture, transit and transport displays, and place-based media.

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.