Market Insights Advertising & Media Advertising

TV & Video Advertising - Latvia

Latvia

Ad spending in the TV & Video Advertising market in Latvia is forecasted to reach US$84.72m in 2024.
The largest market is Traditional TV Advertising with a market volume of US$42.73m in 2024.
In global comparison, the United States is expected to lead in ad spending with US$143.80bn in 2024.
The average ad spending per user in the Traditional TV Advertising market is projected to be US$27.01 in 2024.
The number of TV Viewers in Latvia is anticipated to reach 1.6m users by 2029.
Latvia's TV & Video Advertising market is seeing a shift towards digital platforms, with a focus on targeted, data-driven campaigns to maximize ROI.

Key regions: United States, India, China, Japan, United Kingdom

Definition:
TV & Video Advertising includes advertising in the form of moving visual images instead of traditional broadcast television and all ad formats within digital video channels. Traditional TV Advertising includes non-digital formats and excludes all forms of digital TV advertising. Traditional TV Advertising also covers all ad spending on pay-TV operators and networks, free-to-air networks, and free-to-air spin-off digital channels from terrestrial network operators. In comparison, Digital Video Advertising includes all ad formats within webpage-based videos, app-based video players, social media, or streaming apps that appear on computer screens, smartphones, tablets, and other internet-connected devices.

Structure:

Traditional TV Advertising includes all ad spending on moving image formats broadcasted via traditional transmission channels such as terrestrial and digital terrestrial (DTTV, DTT, DTTB) TV, cable TV, satellite TV, and linear TV delivered via Internet Protocol television (IPTV).
Digital Video Advertising formats are displayed as instream and outstream video ads. Instream video ads include advertising that appears before, during, or after the streamed video (pre-roll, mid-roll, and post-roll video ads) and video overlays (text- or image-based overlays that appear while watching a video). Outstream video ads include video advertising that appears in non-video environments, e.g., in-feed on social media or text-based content (so-called native advertising).

Additional information:
The TV & Video Advertising market comprises advertising spending, users, average revenue per user, and user demographic. The market only displays B2B spending and users for the market. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions of Traditional TV Advertising and Digital Video Advertising can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Market

Region

Region comparison

Currency

Analyst Opinion

The TV & Video Advertising market in Latvia has been experiencing steady growth in recent years, driven by changing customer preferences and the increasing availability of digital platforms. Customer preferences in the TV & Video Advertising market have shifted towards digital platforms, as more and more consumers are accessing content online. This trend is driven by the convenience and flexibility of digital platforms, which allow viewers to watch their favorite shows and videos at any time and on any device. As a result, advertisers are increasingly investing in digital advertising to reach their target audience effectively. In addition to digital platforms, there is still a demand for traditional TV advertising in Latvia. Despite the rise of digital platforms, many viewers still prefer to watch their favorite shows and movies on traditional TV channels. This preference is particularly strong among older demographics who may not be as comfortable with digital technology. One of the significant trends in the TV & Video Advertising market in Latvia is the growth of programmatic advertising. Programmatic advertising uses data and algorithms to automate the buying and selling of ad space, allowing advertisers to target their audience more effectively. This trend is driven by the increasing availability of data and advanced analytics, which enable advertisers to optimize their campaigns and improve their return on investment. Another trend in the market is the rise of mobile advertising. With the widespread use of smartphones and tablets, advertisers are increasingly targeting consumers on these devices. Mobile advertising offers unique opportunities for advertisers to reach their audience in a more personalized and interactive way. Local special circumstances in Latvia also contribute to the development of the TV & Video Advertising market. The country has a relatively small population compared to other European countries, which means that advertisers need to be more targeted in their campaigns. This has led to the rise of niche advertising, where advertisers focus on specific segments of the population to maximize their impact. Underlying macroeconomic factors also play a role in the development of the TV & Video Advertising market in Latvia. The country has experienced stable economic growth in recent years, which has increased consumer spending and advertising budgets. Additionally, Latvia's membership in the European Union provides access to a larger market and opportunities for international partnerships and collaborations. Overall, the TV & Video Advertising market in Latvia is developing in response to changing customer preferences, the increasing availability of digital platforms, and the growth of programmatic and mobile advertising. These trends, combined with local special circumstances and underlying macroeconomic factors, are driving the growth of the market and creating new opportunities for advertisers.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on TV and video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional TV advertising (non-digital formats such as terrestrial TV, cable TV, satellite TV, and linear TV) and digital video advertising (video ad formats: web-based, app-based, on social media, and connected devices).

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, web traffic, 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, media consumption, internet users, consumer spending, 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.