Czech advertising market shrinks by one fifth as a result of the global economic crisis.

19-05-2009

The national advertising market has significantly decreased its turnover in consequence of the global economic crisis. The Association of Czech Advertising Agencies and Marketing Communication, which brings together agencies with a combined turnover of some 1.5 billion Czech crowns, estimated on Tuesday that the market had plummeted by roughly one fifth, with the greatest dives seen in television advertising and marketing exhibitions. Internet advertising conversely continues to grow, though at a slower pace than in previous years. According to the association’s president, Pavel Brabec, the current decline is not so much due to a lack of money on the market, but rather the illogical decisions of companies to postpone and decrease advertising investments.