Bulgarian internet advertising market made a huge step forward by increasing its revenues with 81% last year. Recent market studies show rise in online advertising spending from 3.1 million leva (approx. 1.9 million USD) to over 5.6 million leva (approx. 3.42 million USD). The results were announced on a press conference hold by Investor.bg on 01.03.2006.
Other interesting highlight from the confernce was the announcment of top internet advertiser groups and individual advertisers by media value. Communications and finance sectors account for more than 60% of the advertising volume.
Top five internet advertisers for 2005 are:
- Bulgarian Telecom (telecommunications and intenet)
- NMSS (political party)
- Raiffeisen Bank (finance)
- Biohim Bank (finance)
- MobilTel (mobile communications)
- GIC (insurance company)
Still, in the beginning of 2006 Bulgarian online advertisting market volume accounts for only 2% of Bulgarian advertising market. There is a lot of space for expansion. One problem we observe is the lack of understanding of internet marketing from advertising agencies. They prefer to tell a client that internet is too expensive or without perspective rather than making the effort to enter the internet adverting space.
Predictions for 2010 show that Bulgarian online marketing spending to be around 50 million levs (approx. 31 million USD).