Advertising - Serbia | Statista Market Forecast

Ad spending in the Advertising market in Serbia is forecasted to reach US$372.90m in 2024.
The largest market is TV & Video Advertising with a market volume of US$152.60m in 2024.
When compared globally, the United States is expected to lead in ad spending with US$425.90bn in 2024.
Within the Advertising market, 54% of total ad spending is estimated to come from digital sources by 2030.
The average ad spending per capita in the TV & Video Advertising market is projected to be US$21.50 in 2024.
In terms of 71% revenue within the Advertising market, Advertising market is anticipated to be generated through programmatic advertising in 2030.
Serbia's advertising market is witnessing 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 Serbia is experiencing steady growth and development, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Advertising market in Serbia have shifted towards digital platforms and mobile devices. With the increasing penetration of smartphones and internet connectivity, consumers are spending more time online, creating opportunities for advertisers to reach their target audience through digital channels. This shift in preferences is also influenced by the convenience and personalization offered by digital advertising, allowing advertisers to deliver targeted messages to specific segments of the population. Trends in the market indicate a rise in programmatic advertising, which automates the buying and selling of ad space. Programmatic advertising offers efficiency, cost-effectiveness, and real-time optimization, allowing advertisers to reach their target audience more effectively. This trend is driven by advancements in technology and data analytics, enabling advertisers to make data-driven decisions and optimize their advertising campaigns for better results. Another trend in the Advertising market in Serbia is the increasing use of influencer marketing. Influencers, who have a large and engaged following on social media platforms, are being utilized by brands to promote their products and services. This trend is driven by the growing influence of social media and the desire of consumers to connect with authentic and relatable individuals. By partnering with influencers, brands can leverage their credibility and reach a wider audience. Local special circumstances in Serbia also contribute to the development of the Advertising market. The country's strategic location in Southeast Europe makes it an attractive market for international advertisers looking to expand their reach in the region. Furthermore, Serbia's membership in the European Union and its efforts to improve business environment and attract foreign investments create a favorable environment for advertising agencies and companies. Underlying macroeconomic factors, such as GDP growth and consumer spending, play a significant role in the development of the Advertising market in Serbia. As the economy grows and consumer purchasing power increases, companies allocate more resources to advertising to capture a larger share of the market. Additionally, favorable government policies and incentives for foreign direct investment contribute to the growth of the advertising industry. In conclusion, the Advertising market in Serbia is experiencing growth and development driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards digital advertising, the rise of programmatic advertising and influencer marketing, Serbia's strategic location, and favorable macroeconomic conditions all contribute to the positive outlook for the Advertising market in Serbia.

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.