The Media Market in Montenegro 2024

The Montenegrin media market remained relatively small but active in 2024, with net advertising revenues reaching approximately €13.5 million (agency estimate, total excluding global platforms). Television maintained its dominant position, capturing 54% of the market. Out-of-home advertising, as in previous years, showed strength—largely driven by seasonal tourism. Radio remained stable, while print continued to decline.

As in previous years, the advertising market still suffers from a limited amount of available data. Without any target group analytic tools (TGI, Brand Puls, or similar), research remains limited, and the CPP buying model is not used.

There are 572,000 internet users in Montenegro, and internet penetration stands at a relatively high 89.8%.

In the digital sector, programmatic advertising is seeing strong growth. Adform and DV360 are the primary platforms, with Eskimi also available. Due to the lack of syndicated digital research tools in Montenegro, many rely on Google Analytics as a practical and accessible solution.

Also in 2024, DION entered the media market—an innovative advertising channel that automates the buying and selling of digital out-of-home inventory using advanced programmatic technology.

Although challenges remain in terms of available data, the market is projected to continue its gradual growth throughout 2025.