The Economic Environment of the Media Market in Bulgaria 2024

In 2024, the Bulgarian economy expanded steadily, with GDP growth estimated between 2.2% and 2.6%, falling inflation (1.8%), and rising wages – all of which boosted consumer spending and advertising investments.

Bulgaria’s local media market was shaped by this combination of moderate economic growth, accelerating digitalisation, and ongoing structural vulnerabilities. Total advertising spending reached €340.3 million, an increase of 8.7% compared to 2023. Growth was led by digital media (+14%) and television (+6%), while print advertising declined by 10%.

Despite this overall growth, the media market remained fragile, characterised by high ownership concentration and heavy reliance on advertising revenue. This dependency stemmed from weak consumer willingness to pay and relatively low adoption of subscription-based models. Additionally, a significant share of online ad revenue continued to flow to global platforms such as Google and Meta, leaving local publishers underfunded.