The media market in 2022, Hungary

We have witnessed a slowing Hungarian media market in 2022, with the pace of growth dropping significantly. The total media market was worth 802 M EUR in 2022. In terms of share by media type, digital media took more than half of total spending, 52%, with global players accounting for 34%. Television decreased to 24%, while print took 12%, outdoor 8% and radio 4%.

The largest spenders in the market were the OTC and trade sectors, as well as state owned advertisers. For 2022 state owned companies reduced their spending significantly (-25.2%), with the OTC sector taking the lead, increasing their total spend by 21.9% compared to 2021.

In terms of media inflation calculated for 2022, we estimate the highest values for TV as 12,2% and outdoor as 8.5%. Looking at the structure of the Hungarian media market, there were no significant changes in 2022, with no significant new international or domestic players.

What is worth highlighting is that the last two years have seen a proliferation of streaming service providers available in Hungary, with Netflix being the number one international streaming provider for Hungarian users and HBO MAX being the second most popular. The majority of streaming users have access to at most two providers: 22% have one and 15% have two active services. The average streaming-cost is 12 EUR/month. With the growing streaming options, viewers are mainly choosing shows over channels now.

Global players and solutions are setting the pace for the online media market. Local players are looking for content and data solutions to keep advertisers interested. The trend points towards centralisation: advertisers, agency networks and sales houses tend to set up service centres and manage activities centrally. Declining local online spending is concentrating budgets on better performing sales houses in Hungary. Outdoor advertising is back on the growth track. The number of billboards is on a downward trend, especially in Budapest, but the number of citylights and digital citylights has increased nationally. Growing digital citylight evolution is on the market.