BUSINESS IN SHORT

Advertising spending rises to Sk13.5 billion

SLOVAK companies spent about Sk9.8 billion on publicity and an additional almost Sk3.7 billion on public relations, leaflets and other forms of advertising last year, the Stratégie monthly periodical wrote.

SLOVAK companies spent about Sk9.8 billion on publicity and an additional almost Sk3.7 billion on public relations, leaflets and other forms of advertising last year, the Stratégie monthly periodical wrote.

This was a rise of 12 percent from 2006, the Hospodárske Noviny financial daily wrote.

TV stations consumed the largest cut of the advertising cake at Sk4.2 billion, followed by print media with almost Sk3.3 billion, which is up by 7 percent. “Out of home” advertising – outdoor, such as billboards; as well as indoor, was third with Sk1.1 billion in sales.

Websites reported the largest increase, jumping 60 percent to Sk560 million.

Some expect that TV stations will experience a slower gowth in advertising sales this year, as the market is considered to be saturated, but that advertising on the internet will receive a steep increase in sales.

Spending on publicity reaches 1 percent of GDP in developed economies. Slovak companies would have to spend an additional almost Sk4.9 billion to achieve that level.

The healthy state of Slovakia’s economy and the arrival of new companies and products on the market should help the demand for advertising to grow by another 10-11 percent, experts say.

Price lists show that telecom companies spent the most on advertising last year.

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