Key regions: United States, China, Japan, United Kingdom, Germany
The Media market in Hungary has been witnessing significant growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Hungarian customers have shown a growing preference for digital media platforms, with an increasing number of people consuming news, entertainment, and other content online. This shift in customer behavior can be attributed to the widespread availability of high-speed internet and the rising popularity of smartphones and other mobile devices. Additionally, there has been a surge in demand for streaming services, as customers seek convenience and flexibility in accessing their favorite movies, TV shows, and music.
Trends in the market: One of the key trends in the Hungarian media market is the rise of digital advertising. Advertisers are increasingly allocating their budgets towards online platforms, as they offer better targeting capabilities and measurable results compared to traditional forms of advertising. This trend is further fueled by the growing popularity of social media platforms, where advertisers can reach a large audience and engage with them effectively. Another trend in the market is the consolidation of media companies. Larger players are acquiring smaller ones to expand their reach and diversify their content offerings. This consolidation is driven by the need to stay competitive in a rapidly evolving media landscape and to leverage economies of scale. As a result, there are fewer independent media outlets in Hungary, with a few dominant players controlling a significant share of the market.
Local special circumstances: The Hungarian media market is influenced by local special circumstances, including government regulations and political factors. There have been concerns about media freedom and independence in Hungary, with critics arguing that the government has exerted control over certain media outlets. This has led to a polarized media landscape, with some outlets being perceived as biased or lacking in objectivity. These special circumstances have implications for the media market, as they can affect the diversity of content and the trust that customers place in media organizations.
Underlying macroeconomic factors: The development of the media market in Hungary is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has contributed to an increase in disposable incomes and consumer spending. As a result, customers have more purchasing power to spend on media products and services. Additionally, the growth of the media market is closely tied to the overall business environment in Hungary, including factors such as investment climate, regulatory framework, and technological infrastructure. In conclusion, the Media market in Hungary is evolving to meet the changing customer preferences, with a growing focus on digital platforms and online advertising. The market is also shaped by local special circumstances, such as government regulations and political factors, which can impact media freedom and independence. The underlying macroeconomic factors, including economic growth and business environment, also play a significant role in the development of the media market in Hungary.
Data coverage:
The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. 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 relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a 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). Consumer Insights data is reweighted for representativeness.
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