Hungarian ad market suffers first yearly drop in 2009

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After years of expansion the Hungarian advertising market slumped by more than 20% in 2009, business news portal ecoline.hu writes, based on data collected by market researcher MediaLab.

MediaLab estimates that the total ad spend for the country was Ft 168 billion (€627 million) last year, including an average 15% agency commission.

The three biggest losers were print media, radio and public area media.

While the market for online advertising also dropped, the single-digit decline was small enough that the Internet gained a 2% larger share of the overall ad market, making it the third largest channel after television and print media.

This year, MediaLab expects the market to shrink further, research director Tamás Jobbágy told the portal.

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