Media

In Montenegro, revenue in the Media market is projected to reach US$98.75m in 2024.
The largest market of this market in Montenegro is TV & Video, which is expected to have a market volume of US$40.12m in 2024.
In a global context, the highest revenue generation will occur the United States, with figures amounting to US$541.20bn in 2024.
Additionally, in the Media market, it is anticipated that 40.11% 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.

Definition:

The media market encompasses a diverse array of platforms and channels that facilitate the creation, distribution, and consumption of content, such as news, entertainment, and information. It includes traditional outlets like television, radio, and print publications, as well as digital platforms like social media, streaming services, and online news websites. This market plays a central role in shaping public discourse, cultural trends, and the dissemination of information on a global scale, making it a critical component of modern society.

Structure:

The market consists of several parts, namely Books, Games, Music, Radio & Podcasts, Newspapers & Magazines and TV & Video. These markets encompass digital and traditional revenues.

Additional Information:

The market comprises revenues, users, average revenue per user, penetration rates and advertising spendings. Revenues are generated through purchases, subscriptions, consumer spending or ad spendings. Key players of the market are companies, such as Netflix, Spotify, Activision or Amazon.
Market numbers for all the digital markets can also be found in the Digital Media topic.

Traditional media with non-digital revenues from TV, radio, music, print, and video games
Digital media with digital revenues from OTT video, music streaming, video games, digital versions of Newspapers & Magazines with ePapers & eMagazines, and eBooks

Movie theater ticket sales
Public licence fees collected in form of a tax (e.g. income tax in the Nordic countries)
Demo/trial versions
Esports & gaming advertising revenues

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.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Online video streaming has visibly transformed the global media landscape and impacted viewing behavior around the world. Driven by rapid leaps in internet adoption, widespread availability of mobile devices, and the ever-increasing popularity of online video content, the global video streaming market has experienced unprecedented growth in the last decade. In 2023, the over-the-top (OTT) video revenue reached an estimated 288 billion U.S. dollars, with the United States accounting for the largest share of revenue worldwide. Considering that the list of international streaming services and the catalog of online video content continue to expand at a rapid pace, the number of OTT users worldwide is expected to reach new heights in the future.