The Economic and Political Environment of the Media Market in Ukraine 2024

Three full years have passed since Russia’s full-scale invasion of Ukraine. The country continues to resist, gradually adapting its economy to wartime realities. In 2024, GDP grew by 2.9%, supported by recovery in construction, trade, and agriculture. Inflation stabilized around 12%, and the national currency remained relatively stable despite ongoing attacks on infrastructure and energy shortages.

Demographic shifts remain significant, though slower than in 2022. As of September 2024, the population in government-controlled areas was estimated at 31.1 million, down nearly 25% from pre-war levels. Migration continues to affect labor supply and consumer demand. Despite structural challenges, the economy demonstrates resilience under extreme conditions.

The wartime context continued to shape the Ukrainian media ecosystem in 2024. Government communication focused on national unity, resistance, and emergency information. Media outlets operated under regulatory constraints, including restrictions on ownership concentration, content requirements, and joint broadcast obligations under martial law.

Key legislative changes affected the industry. In October, Parliament advanced amendments to the Media Law to refine the 2022 framework and align with EU directives. Another draft law proposed new rules for digital advertising, including AI-generated content and gambling ads. These steps reflect Ukraine’s commitment to aligning with European standards – even amid war – and are already influencing how media businesses evaluate risk, plan investment, and adjust operations.

These dynamics played out against a media market showing strong signs of recovery. Major advertisers such as Procter & Gamble, Coca-Cola, and Henkel resumed full-scale media activity, leading to substantial investments across sectors, including banking, FMCG, and retail. This resurgence contributed to the growth of traditional channels, particularly television, which saw an increase in its market share for the first time in years. A notable trend was the diversification of media mixes: while digital remained the dominant channel due to consumption habits and performance tracking, many brands expanded their presence across platforms. To enhance contact frequency and navigate growing advertising clutter, advertisers increasingly leveraged TV and OOH as strategic complements to digital.