Digital Video Advertising - Bulgaria

Ad spending in the Digital Video Advertising market in Bulgaria is forecasted to reach US$43.72m in 2024.
The expected annual growth rate (CAGR 2024-2030) of ad spending is 5.44%, leading to a projected market volume of US$60.08m by 2030.
With a projected market volume of US$85.39bn in 2024, the United States will generate the most revenue.
Within the Digital Video Advertising market, 50% of total ad spending will come from mobile in 2030.
The average ad spending per internet user in the Digital Video Advertising market is projected to be US$8.32 in 2024.
Connected TV ad spending in the Digital Video Advertising market is estimated to reach US$4.17m in 2024, with an expected CAGR of 4.10%, resulting in a projected market volume of US$5.30m by 2030.
Ad spending on short-form videos in the Digital Video Advertising market is projected to reach US$18.51m in 2024, and it is expected to grow annually at a rate of 9.35%, resulting in a projected market volume of US$31.65m by 2030.
Bulgaria's Digital Video Advertising market is rapidly growing, with increased focus on targeted and interactive ad campaigns to reach tech-savvy audiences.

Definition:
Digital Video Advertising includes all ad formats within webpage-based videos, app-based video players, social media, or streaming apps on computer screens, smartphones, tablets, and other internet-connected devices. Videos that seamlessly match the form and function of the environment (e.g., news websites, video platforms) in which they appear (so-called native advertising) are also included in Digital Video Advertising.

Additional information:
Digital Video Advertising comprises advertising spending, connected-TV advertising spending, users, average revenue per user, and user demographic. The market only displays B2B spending. Figures are based on Digital Video Advertising spending and exclude agency commissions, rebates, production costs, and taxes. Key players in Digital Video Advertising include Comcast Corp., The Walt Disney Company, YouTube, TikTok, and Facebook. For more information on the data displayed, use the info button right next to the boxes.

All ad formats within webpage-based videos, app-based video players, social media networks, or social media apps
Pre-roll, mid-roll, and post-roll video ads
Text- or image-based overlays that appear in video players
Native advertising
Connected TV advertising
Ad spending on short-form videos

Traditional TV advertising video formats broadcasted over traditional transmission channels (e.g., DTT, cable, satellite)
Addressable TV ads, targeted advertising to individual households via set-top boxes; including cable and satellite using addressable technologies such as Dynamic Ad Insertion (DAI)

The Digital Video Advertising market in Bulgaria has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing availability of high-speed internet connections. Customer preferences in Bulgaria have shifted towards consuming video content online, with a growing number of consumers choosing to watch videos on platforms such as YouTube and social media. This trend is in line with global market trends, as consumers worldwide are increasingly turning to digital platforms for entertainment and information. As a result, advertisers are recognizing the importance of reaching consumers through digital video advertising to effectively engage with their target audience. One of the key trends in the Bulgarian Digital Video Advertising market is the rise of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of ad inventory, making it more efficient and cost-effective. This trend is driven by advancements in technology and data analytics, which enable advertisers to target specific audiences and measure the effectiveness of their campaigns. Programmatic advertising is gaining traction in Bulgaria as advertisers seek to optimize their advertising budgets and improve the return on investment. Another trend in the market is the increasing use of mobile devices for video consumption. With the widespread adoption of smartphones and tablets, more Bulgarians are accessing video content on the go. This trend is driving the demand for mobile video advertising, as advertisers seek to reach consumers wherever they are. Mobile video advertising offers unique opportunities for advertisers to engage with their target audience through interactive and personalized ads. Local special circumstances in Bulgaria also contribute to the development of the Digital Video Advertising market. The country has a relatively high internet penetration rate, with a large portion of the population having access to high-speed internet connections. This enables advertisers to reach a wide audience through digital video advertising. Additionally, Bulgaria has a growing tech-savvy population, which is receptive to digital advertising and open to trying new products and services. Underlying macroeconomic factors such as the growth of the Bulgarian economy and increasing consumer spending power also contribute to the development of the Digital Video Advertising market. As the economy continues to grow, businesses are investing more in advertising to capture a larger share of the market. This presents opportunities for advertisers to reach consumers through digital video advertising and drive sales. Overall, the Digital Video Advertising market in Bulgaria is developing rapidly, driven by changing customer preferences, advancements in technology, and favorable macroeconomic factors. Advertisers are increasingly recognizing the importance of digital video advertising in reaching their target audience and driving business growth. As the market continues to evolve, it is important for advertisers to stay abreast of the latest trends and technologies to effectively engage with consumers and achieve their advertising objectives.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers video ad formats (web-based, app-based, social media, and connected devices).

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. 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, internet users, and digital consumer spending.

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.

From six-second bumper ads to multi-minute compilations, video marketing is constantly evolving, and audiences everywhere never fail to tune in. As the number of digital video viewers keeps rising every year, marketers embrace video as a promotional tool more vividly than ever. In 2023, digital video ad spending amounted to almost 176.63 billion dollars. Unsurprisingly, the United States remains the country with the highest spending on digital video ads, followed by China and the United Kingdom. Connected TV (CTV) and social video are among the most popular content marketing tactics worldwide, and the post-pandemic era has only consolidated companies’ dependency on these tools.