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    Economics

    Uzbekistan’s media market to grow by 30% in 2024

    Uzbekistan’s media market to grow by 30% in 2024

    The Ledokol Group projects a 35% growth in Uzbekistan’s media market in 2023, followed by an additional 30% growth in 2024. IMS data indicates that TV advertising will see an investment of UZS 850 bn ($67.6 mn) in 2023. This substantial increase is driven by a 40% rise in prices this year and heightened activity from various categories and advertisers. Procter & Gamble, for instance, initiated a major campaign, securing a spot in the top three advertisers by purchase. The most notable advancement was observed in the fintech sector.

    Reformat’s study, involving a large sample size of 5,000 respondents, reveals that 82% of the Uzbekistan audience tunes into TV, with 63% of them doing so daily.

    Digital advertising landscape

    The advertising arms of Google, Meta, and Yandex have emerged as significant taxpayers, implying that each corporation’s annual profit, after tax deductions, surpasses $9 mn. Consequently, the market stands at no less than UZS 330 bn ($26.2 mn). When local media, bloggers, and Telegram channels are factored in, the total reaches UZS 440 bn (almost $36 mn).

    Growth of outdoor advertising 

    The outdoor advertising market is also witnessing growth, currently making up an estimated 20% of the total media budget. The introduction of digital LED screens has attracted more advertisers and increased media investment.

     

    In 2024, the outdoor advertising market is expected to grow by approximately 30%, driven by a rise in advertisers and increased placement costs from operators.

    Surge in social media traffic

    There has been a significant increase in traffic on social networks, messengers, and YouTube in recent years. Meta’s monthly social media usage crossed 10 mn users, YouTube has 13 mn users, and Telegram has over 20 mn users.

    The market is predicted to expand by 28-30% in 2024, and if there is no major inventory expansion, by 22-24% in 2025.

     

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    25.03.2024, 15:37   Comments (0)   3433
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