In 2024, the growth of the Russian advertising market excluding the e-commerce segment is expected at the level of 11-18%, taking into account e-commerce – 16-35%.

In 2024, the growth of the Russian advertising market excluding the e-commerce segment is expected at the level of 11-18%, taking into account e-commerce – 16-35%. This forecast was made by the President of Igronik Group Nikita Pipko during a speech at the main strategic session of the NRF’7.

The results of 2023 for the advertising industry will be better than predicted in 2022. Russia is experiencing economic growth. In the first nine months of this year, GDP grew by 2.9% compared to the same period last year against the background of low unemployment - about 3% and real wage growth (+7.5% in real terms).

"Next year, the growth of the main economic indicators will continue, including the growth of retail turnover and profits of enterprises. The increase in consumer activity is directly reflected in the advertising market, which we estimate by the volume of advertisers' budgets, and they are growing (unfortunately, this does not lead to an increase in inventory). Budgets of top advertisers - financial sector, e-com, telecom, Internet services - doubled in 9 months of this year. We expect that in 2024, the growth of the advertising market excluding e-com is expected from 11% to 18%, and taking into account e-com – 16-35%. Unless there is a new tectonic shift," Nikita Pipko said.