Business Forum • 19 December, 2024 at 11:11 AM
Romania's media market will end 2024 on a stable growth trajectory, despite economic and geopolitical challenges, surpassing previous forecasts. Cyclical sports events such as UEFA Euro 2024 and the Paris 2024 Olympics, alongside multiple electoral rounds, have driven a significant increase in advertising revenues. These revenues grew by 11% in 2024 compared to the previous year, reaching a total value of €778 million, according to estimates by Initiative Romania, the company behind MediaFactBook, the only annual report analyzing Romania's media and advertising market.
Advertising revenue market shares remain stable: Television leads with 52.2%, followed by Digital at 36.4%, OOH at 6%, Radio at 4.9%, while Print stays below 1%.
“The Romanian media market in 2024 continues to reflect the technological, social, and economic transformations of Romanian consumers. Television remains a cornerstone of advertising investments, as the channel with the highest national reach. It continues to stay relevant to urban segments by adapting its content through high-quality local productions, live broadcasts, and a strong understanding of the role of digital platforms, enabling it to attract a diverse and highly engaged audience. Digital media continues to drive the expansion of the media market, fueled by the growth of streaming platforms and the popularity of short-form video content on social networks. The rise of local influencers as key players in advertising campaigns, particularly on platforms like TikTok, Instagram, and YouTube, is a trend set to shape the dynamics of the advertising industry moving forward.
In recent years, there has been rapid development in digital advertising as well as in the OOH sector, with a significant increase in LED billboards. The momentum in this sector is expected to continue. Radio remains relevant by providing local content and themed shows that cater to a loyal audience, while print media, though modest in presence, holds symbolic value for certain sectors. It is a dynamic market capable of quickly adapting to changes, offering numerous opportunities for those who can capitalize on them swiftly. In this context, Media Fact Book remains not only an annual analysis of the media market but also a vital tool for strategic decision-making in a media landscape undergoing vibrant evolution,” said Alexandra Olteanu, Managing Director Initiative Romania.
In 2024, television has shown solid stability as the dominant medium and is estimated to reach €406 million, marking a +10% growth compared to 2023.
Romania's Digital market continued its growth trajectory, reaching an estimated value of €283 million in 2024. This growth was driven by ongoing digitalization, the expansion of e-commerce, and shifts in media consumption. Google Search dominated digital advertising spending, followed by Display, Social Media, and YouTube. The platform with the highest growth in 2024 was TikTok.
By the end of 2024, the OOH market is estimated to reach €46.6 million, reflecting a +12.5% increase compared to net budgets in 2023. This growth is supported by a favorable economic context and intensified competition in sectors such as Retail, Financial Services, and Automotive. The forecast for the Radio market in 2024 stands at €38 million, marking an +8% increase compared to the previous year.
The top economic sectors in terms of media investments is dominated by Retail, with 24% of the market and an increase of +8% compared to 2023, reaching a value of almost 190 million euros. The Healthcare sector maintains the second position with 16% of the total market and an increase of 5% compared to the previous year. The Food & Beverages (+11%), E-commerce (+8%) and Cosmetics & Personal Care (+8%) sectors recorded moderate growth, while Financial Services (+20%), Betting & Gambling (+17%), HoReCa (+17%), Building Materials and Services (+31%) and Home Products (+30%) had more dynamic growth. The only sector that recorded a decrease in media investments is Telecommunications, by -14% compared to 2023.
The ranking of economic sectors by media investments is led by Retail, accounting for 24% of the market and showing an +8% growth compared to 2023, reaching nearly €190 million. The Healthcare sector holds the second position with 16% of the total market and a 5% increase year-over-year. Moderate growth was recorded in the Food & Beverages (+11%), E-commerce (+8%), and Cosmetics & Personal Care (+8%) sectors. In contrast, more dynamic growth was seen in Financial Services (+20%), Betting & Gambling (+17%), HoReCa (+17%), Construction Materials & Services (+31%), and Home Products (+30%). The only sector to experience a decline in media investments was Telecommunications, with a -14% drop compared to 2023.