Moscow advertisement market nosedives 45% since January

Author: Inga Friedelhaus Section: Major Events of the Month

Issue: July 2009, Vol. 4, No. 6

Tags: Advertisement market

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Market Recovery Signs

The global economic crisis has seriously hit the Moscow advertisement market, pulling it down by 40-45% since January. However, today, we are seeing some improvement, triggered by increasing activities of banks and auto companies, Vladimir Makarov, chairman of the City’s Advertisement Committee, said.

“I can say that there are now visible ‘green shoots’ of recovery, caused by the arrival of new advertisers on the market and the wearing-off of the initial shock caused by the economic instability.”

Besides, the positive trend also stems from repositioning of advertisers and the government’s policy that offers up to 30% discounts on outdoor advertisements.