Market Insights Advertising & Media Advertising TV & Video Advertising

Traditional TV Advertising - Serbia

Serbia

Ad spending in the Traditional TV Advertising market in Serbia is forecasted to reach US$117.90m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 0.20%, leading to a projected market volume of US$119.10m by 2029.
The average ad spending per TV Viewer in the Traditional TV Advertising market in Serbia is estimated to be US$19.02 in 2024.
The number of users in the Traditional TV Advertising market in Serbia is expected to reach 6.03m users by 2029.
Serbia's Traditional TV Advertising market is experiencing a resurgence as brands capitalize on the medium's reach and local audience engagement.

Key regions: Germany, Europe, Japan, United Kingdom, Australia

Definition:
Traditional TV Advertising refers to ad spending on moving image formats broadcasted via traditional transmission channels such as terrestrial and digital terrestrial (DTTV, DTT, DTTB) TV, cable TV, satellite TV, and linear TV delivered via Internet Protocol television (IPTV). Terrestrial television uses traditional antennas that transmit analog signals. Analog terrestrial TV has undergone a digital switchover (DSO) to digital terrestrial TV in most parts of the world. For digital terrestrial TV, television broadcasting stations transmit TV content through radio waves to televisions in households in a digital format. Internet Protocol television (IPTV) refers to the delivery of television content via Internet Protocol networks. IPTV is used in subscriber-based telecommunications networks via set-top boxes or other customer-premises equipment (IPTV is included in the cable revenue split here). Traditional TV Advertising covers all ad spending on pay-TV operators and networks as well as free-to-air networks and free-to-air spin-off digital channels from terrestrial network operators. Usually, the distribution of advertising time in television programs is either carried out by the broadcasters themselves or by marketing agencies.

Structure:

Cable TV signals are transmitted through coaxial or fiber-optic cables directly to each household without the need for external antennas.
Satellite TV includes television programming with the use of communication satellites that transmit to satellite dishes. A dedicated satellite receiver (external set-top boxes or built into TV sets) decodes the television program.
Digital Terrestrial Television (DTT), sometimes known as direct-to-terrestrial television, is a type of television reception in which a signal is transmitted directly to a viewer's antenna rather than through a cable or satellite system. As a rule, HDTV signals are available through digital terrestrial television, and this type of television also makes better use of the radio spectrum.

Additional information:
Traditional TV Advertising comprises advertising spending, users, average revenue per user, and user demographic. The market only displays B2B spending and users. Figures are based on Traditional TV Advertising spending and exclude agency commissions, rebates, production costs, and taxes. For more information on the data displayed, use the info button right next to the boxes.

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Analyst Opinion

The Traditional TV Advertising market in Serbia has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Serbian customers still have a strong preference for traditional TV advertising, as it remains the most popular medium for consuming content. Despite the rise of digital platforms, many viewers in Serbia continue to rely on traditional television channels for news, entertainment, and sports. This preference for traditional TV has contributed to the growth of the advertising market in the country.

Trends in the market: One of the key trends in the Traditional TV Advertising market in Serbia is the increasing competition among broadcasters. With the proliferation of new TV channels and the expansion of existing ones, broadcasters are vying for viewership and advertising revenue. This competition has led to innovative programming and content, as well as more targeted advertising campaigns to attract and retain audiences. Another trend in the market is the integration of digital technologies into traditional TV advertising. Broadcasters are increasingly using data analytics and audience measurement tools to better understand viewer behavior and preferences. This allows them to offer more personalized and targeted advertising, enhancing the effectiveness of their campaigns. Additionally, the rise of connected TVs and smart devices has opened up new opportunities for advertisers to reach audiences through interactive and engaging content.

Local special circumstances: Serbia's advertising market is also influenced by local special circumstances. The country has a relatively low internet penetration rate compared to other European countries, which has contributed to the continued dominance of traditional TV advertising. Additionally, the Serbian government has implemented regulations to protect local broadcasters and limit foreign ownership, which has created a favorable environment for the growth of the Traditional TV Advertising market in the country.

Underlying macroeconomic factors: The growth of the Traditional TV Advertising market in Serbia is also supported by underlying macroeconomic factors. The country has experienced stable economic growth in recent years, which has increased consumer spending power and advertising budgets. Furthermore, Serbia's integration into the European Union and the opening of its market to foreign investors have attracted international advertisers, leading to increased competition and investment in the advertising sector. In conclusion, the Traditional TV Advertising market in Serbia is developing due to customer preferences for traditional television, increasing competition among broadcasters, the integration of digital technologies, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, advertisers and broadcasters in Serbia will need to adapt to changing consumer behaviors and leverage new technologies to stay competitive and effectively reach their target audiences.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on traditional TV advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers non-digital formats such as terrestrial TV, cable TV, satellite TV, and linear TV.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, and survey results from our primary research (e.g., Consumer Insights) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, population, media consumption, number of households with television, and consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.