Media - Montenegro

Montenegro

In Montenegro, revenue in the Media market is projected to reach US$98.69m in 2024.
The largest market of this market in Montenegro is TV & Video, which is expected to have a market volume of US$40.07m in 2024.
In a global context, the highest revenue generation will occur the United States, with figures amounting to US$525.70bn in 2024.
Additionally, in the Media market, it is anticipated that 39.83% of total revenues in Montenegro will be generated through digital Media market by 2029.
In Montenegro, the media landscape is increasingly influenced by digital platforms, reshaping content consumption habits among younger audiences and challenging traditional broadcasting models.

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

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Analyst Opinion

The Media market in Montenegro has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in Montenegro have shifted towards digital media consumption, with a growing demand for online streaming services, social media platforms, and digital advertising. This can be attributed to the increasing availability of high-speed internet and the widespread adoption of smartphones and other digital devices. Consumers are now seeking convenience and flexibility in accessing media content, which has led to a decline in traditional forms of media such as print newspapers and television. Trends in the media market in Montenegro also reflect global patterns, with a rise in digital advertising and influencer marketing. Advertisers are increasingly allocating their budgets towards online platforms, as they offer more targeted and measurable advertising solutions. Social media platforms have become an essential part of marketing strategies, with influencers playing a significant role in promoting products and services. This trend is driven by the growing influence of social media on consumer behavior and the ability of influencers to reach a large and engaged audience. Local special circumstances in Montenegro have also contributed to the development of the media market. The country's small population and geographic size make it an attractive market for international media companies looking to expand their reach. Montenegro's strategic location in the Balkans also positions it as a gateway to other markets in the region, further attracting investment in the media sector. Additionally, Montenegro's growing tourism industry has created opportunities for media companies to target both domestic and international tourists through advertising and content creation. Underlying macroeconomic factors have also played a role in the growth of the media market in Montenegro. The country has experienced steady economic growth in recent years, which has led to increased disposable income and consumer spending. This has created a favorable environment for media companies to invest in new technologies and content production. Furthermore, Montenegro's integration into the European Union and its efforts to align with EU standards have attracted foreign investment and facilitated the expansion of the media industry. In conclusion, the Media market in Montenegro is developing in response to changing customer preferences, global trends in digital media consumption, local special circumstances, and underlying macroeconomic factors. The shift towards digital media, the rise of influencer marketing, and the growth of online advertising are driving the market's growth. Montenegro's small population, strategic location, and growing tourism industry provide unique opportunities for media companies. The country's economic growth and integration into the European Union further support the development of the media market.

Methodology

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.