Traditional TV Advertising - Bulgaria

Ad spending in the Traditional TV Advertising market in Bulgaria is forecasted to reach US$49.98m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 0.96%, leading to a projected market volume of US$52.94m by 2030.
The average ad spending per TV Viewer in the Traditional TV Advertising market in Bulgaria is projected to be US$9.58 in 2024.
By 2030, the number of users in the Traditional TV Advertising market in Bulgaria is expected to be 0.0users.
Bulgaria's Traditional TV Advertising market is experiencing a shift towards digital platforms, reflecting changing consumer behavior and technological advancements.

Definition:
Traditional TV Advertising refers to 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). Terrestrial television uses traditional antennas that transmit analog signals. Analog terrestrial TV has undergone a digital switchover (DSO) to digital terrestrial TV in most parts of the world. For digital terrestrial TV, television broadcasting stations transmit TV content through radio waves to televisions in households in a digital format. Internet Protocol television (IPTV) refers to the delivery of television content via Internet Protocol networks. IPTV is used in subscriber-based telecommunications networks via set-top boxes or other customer-premises equipment (IPTV is included in the cable revenue split here). Traditional TV Advertising covers all ad spending on pay-TV operators and networks as well as free-to-air networks and free-to-air spin-off digital channels from terrestrial network operators. Usually, the distribution of advertising time in television programs is either carried out by the broadcasters themselves or by marketing agencies.

Structure:

Cable TV signals are transmitted through coaxial or fiber-optic cables directly to each household without the need for external antennas.
Satellite TV includes television programming with the use of communication satellites that transmit to satellite dishes. A dedicated satellite receiver (external set-top boxes or built into TV sets) decodes the television program.
Digital Terrestrial Television (DTT), sometimes known as direct-to-terrestrial television, is a type of television reception in which a signal is transmitted directly to a viewer's antenna rather than through a cable or satellite system. As a rule, HDTV signals are available through digital terrestrial television, and this type of television also makes better use of the radio spectrum.

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

Moving image formats broadcasted over traditional transmission channels such as terrestrial and digital terrestrial (DTTV, DTT, DTTB) TV, cable TV, satellite TV, and linear TV delivered over Internet Protocol networks (IPTV)
Spending for pay-TV operators and networks as well as free-to-air networks and free-to-air spin-off digital channels from terrestrial network operators

Online TV advertising (e.g., ad spending for TV viewed online, delivered by traditional broadcasters via their websites)

The Traditional TV Advertising market in Bulgaria has witnessed significant developments in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Bulgarian customers have shown a strong preference for traditional TV advertising due to its wide reach and impact. TV remains the most popular medium for entertainment, news, and information in the country. Customers value the engaging and immersive nature of TV commercials, which allows them to connect with brands on a deeper level. Additionally, the older demographic in Bulgaria still relies heavily on traditional TV for their entertainment needs, further fueling the demand for TV advertising.

Trends in the market: One of the key trends in the Bulgarian TV advertising market is the increasing adoption of programmatic advertising. Advertisers are leveraging data and technology to target specific audiences and optimize their ad placements. This trend has led to more efficient and effective advertising campaigns, resulting in higher returns on investment for advertisers. Furthermore, the rise of over-the-top (OTT) platforms and streaming services has opened up new opportunities for TV advertising. Advertisers are now able to reach a wider audience through digital platforms, complementing their traditional TV campaigns.

Local special circumstances: Bulgaria has a unique media landscape, with a limited number of TV channels compared to other European countries. This limited supply of TV advertising inventory has led to higher demand and increased competition among advertisers. As a result, TV advertising rates in Bulgaria are relatively higher compared to other markets. Advertisers need to carefully plan their campaigns and optimize their budgets to ensure maximum impact.

Underlying macroeconomic factors: The Bulgarian economy has been steadily growing in recent years, leading to increased consumer spending power. This has resulted in higher advertising budgets and increased investments in TV advertising. Advertisers see TV as a reliable and effective medium to reach their target audience and drive sales. Additionally, the stable political environment and favorable business climate in Bulgaria have attracted multinational companies, further boosting the demand for TV advertising. In conclusion, the Traditional TV 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 wide reach and impact of TV advertising, while also embracing programmatic and digital platforms to enhance their campaigns. With the growing economy and stable business environment, the TV advertising market in Bulgaria is expected to continue its upward trajectory.

Data coverage:

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

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, media consumption, number of households with television, and 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.

Television changed the world; now technology is changing television. After a pandemic-related decrease in ad spending in 2020, global television ad spending has since returned to growth over the first half of the 2020s but has not succeeded in going back to its pre-pandemic figures. At the same time, TV’s share of global ad spending has been decreasing year-after-year. TV’s global deceleration is mostly attributable to a slowdown in linear TV investments, while spending on digital TV is showing no signs of slowing down. Connected TV (CTV) ad revenue worldwide is expected to almost double between 2022 and 2028, as more and more viewers ditch linear TV in favor of devices connected to the internet.