Agora media raises forecast for Poland's advertising market growth in 2024 to 6-8 pct

Listed media group Agora raised its forecasts for growth in the advertising market in Poland in 2024 to 6-8 percent from 5-7 percent earlier, the company said in a press release. Forecasts for the TV and internet advertising markets have been raised.

"The growth rate of the advertising market, both in the first and second quarters of 2024, was better than expectations. The company has decided to revise its expectations for the growth rate of the overall advertising market and several market segments throughout 2024," the release said.

"Agora expects the growth rate of advertising spending in Poland in 2024 to be at around 6-8 percent," the company stated.

The company decided to revise its forecasts despite high geopolitical uncertainty, uncertainty about the rate of economic growth and the level of inflation, as well as the cost of business operations.

In the second quarter of 2024, the value of advertising spending in Poland increased by 9 percent compared to the same period in 2023.

Advertisers spent about PLN 3.33 billion (EUR 777.2 mln) on promoting their products and services during this period. The increase in advertising spending affected all market segments except press.

In the first quarter of 2024, the growth rate of the advertising market was 11 percent, and the increase in spending affected all media except press.

Agora raised its forecast for the television advertising market to 4-6 percent from 3-5 percent previously forecast.

For Internet advertising, forecasts increased to 7-10 percent from 5-8 percent previously .

Agora also changed its prediction for the decline in print advertising to 8-11 percent from 5-8 percent.

The forecast for growth in advertising spending in cinema in 2024 (9-14 percent), radio (4-7 percent) and outdoor advertising (10-15 percent) remained unchanged.

epo/ han/