subscribe to news Experts discussed capabilities of advertising market

More than 200 companies from Russia and China are taking part in the 31^st edition of the International Exhibition for Advertising – Reklama 2024, which is now running at EXPOCENTRE Fairgrounds, Moscow, until 24 October. The show floor is over 4,000 square metres. Companies from 26 regions of Russia and 8 federal districts are demonstrating their products and technologies.

The Reklama conference programme has featured the Conference on the Advertising Business: Trends, Creative Input, Technology, organised by EXPOCENTRE with the support of the Russian Association of Communication Agencies (RACA).

Valentin Smolyakov, First Vice President at the Russian Association of Communication Agencies (RACA), Director General at the Centre of Business Communications Development, moderated the conference. He noted that the Russian advertising market is showing unprecedented growth dynamics.

“In 2023, the growth dynamics of the advertising market in Russia was 30 per cent. The volume of media advertising purchases reached 730 billion roubles. Our advertising market cannot even remember such figures for a very long time, more than 20 years. At the same time, not only the federal and Moscow advertising markets are developing seriously. The regions are also showing good dynamics. More than 20 per cent. The volume of purchases in regional media in 2023 is 106 billion rubles. The first half of 2024 also shows growth, which is 28 per cent. It has reached 400 billion roubles. The regional advertising market has surpassed 50 billion, the growth is 17 per cent,” said Valentin Smolyakov.

Boris Omelnitsky, President at the Interactive Advertising Development Association (ARIR), in his speech pointed out the most dynamically growing segment of the advertising market. He said that over the past two years the landscape of the advertising market had started to change with the departure of major foreign players. If earlier the traditional segments were banners, video advertising, branded and contextual advertising, advertising in search engines, now the market is focused on new media, such as retail media, advertising by bloggers, and advertising in Telegram. Traditional segments on the Internet grew by 32 per cent in 2023, while innovative segments grew by almost 100 per cent. The fastest growing segment of online advertising last year in Russia was retail media. The growth was 227 per cent. And this dynamic is continuing.

Elena Leonova, President at the Russian Association of Marketing Service and CEO at Progression Group, added that the event industry market also showed explosive growth this year. This year brought a huge number of new interesting projects and money to the event sphere. The market showed a 40 per cent growth.

Dimitris Vayas, Head of Media Assets at ADV Group, spoke about the impact of technology on the advertising market. On the one hand, many employees of advertising agencies will be replaced by AI, and automation of business processes will change the usual functionality very much. On the other hand, the demand for human intellectual labour will only grow as strong creativity and strategic approaches created by a human will always carry a value.

During the conference, experts shared information about the volume and trends of the advertising market in 2024, discussed market challenges and opportunities to overcome them, new laws on advertising and their impact on the industry, as well as talked about a cultural code in brand advertising and discussed the tools, opportunities and prospects of AI in advertising. 

Press Service, EXPOCENTRE AO