Russia holds sixth place among the countries with the fastest growing advertising appetites, with its ad expenditures increasing by over 20%, according to the ZenithOptimedia agency. Russia has scored slightly fewer points to catch up with Lithuania this year. Romania is the Eastern European leader.
However, in absolute figures, Russia, with its general advertising expenses of $3.3 billion, has left both Romania and other countries far behind. Russia's record on the list of the top twenty countries with the fastest growing advertising markets was beaten only by China with $8.5 billion.
According to ZenithOptimedia, former Soviet-bloc countries are true magnet for large media corporation owners. The advertising market's rapid growth allows media magnates to forecast that any of their commercial projects will take root in Russia and quickly return investments. That is why Western advertising houses more and more willingly issue their publications with national specifics. For example, Axel Springer has issued the Polish and the Russian versions of Newsweek.
It is said that Steve Forbes approved the issue of the Russian version of Forbes after he heard Axel Springer's enthusiastic assessment of the Russian market's potential. However, there will not be a Russian emphasis in the Axel Springer 2005 strategy; priority will be given to Bulgaria, the Czech Republic and Poland. But, the company is not ruling out a Russian priority in 2006 and 2007. According to ZenithOptimedia forecasts, advertising expenses in Eastern Europe will amount to no less than $700 million annually between 2005-2007.
However, with world advertising expenses amounting to $370 billion, Russia'ssuccesses look modest. But, the Russian ad market could grow to 1% of the world advertising industry this year and win a place among the top three leading countries in Eastern Europe.
