The calm between the storms

During the last decade, media and advertising markets in the region were hit by economic difficulties caused by wars, natural disasters, corporate meltdowns, as well as legal changes specifically targeting the sector. Each and every crisis was different, just like the answer given to them.

The crisis of 2008 (for instance) evolved slowly, affected all sectors, and it took years for the ad spending to reach the pre-crisis level. By contrast, the pandemic hit the market as a whirlwind, as we described in last year’s report. Certain sectors temporarily disappeared while others flourished. In 2020, most companies stepped on the emergency brake at once, but started to switch back to normal speed just a few months later.

As our analysis shows, the market has already bounced back after the coronavirus period. However, a new crisis is already looming on the horizon. Russia’s war in Ukraine and the resulting economic hardships caused by runaway inflation and skyrocketing energy prices will surely leave their mark on our industry. In a couple of months, we will see how the advertising and media industry of CEE copes this time.