The Economic Environment of the Media Market in the Czech Republic 2023

After growing steadily for four years, the Czech economy took a hit in 2020, shrinking by 5.5%. It bounced back with 3.6% growth in 2021 and 2.3% in 2022. In 2023, there was a small dip of 0.4%, but the forecast for 2024 looks positive, with expected growth of 0.6%.

Consumer sentiment is declining, with over 60% of people becoming more mindful of their spending. This shift is affecting both the brands they choose and how often they make purchases. High media inflation, combined with an uncertain economic situation—including high inflation and low consumer confidence—suggests that the media market is likely to grow slowly in the coming years, at around 4%.