MRSZ Media cake: high inflation took away the growth of the Hungarian advertising market

By: Trademagazin Date: 2024. 03. 20. 12:07

The figures of the Hungarian Advertising Association (MRSZ) assessing the spending of the media and communication market in 2023 have been published, which shows that although nominally there was double-digit growth in the Hungarian advertising market, in real terms the sales revenue of the communication industry actually decreased in 2023.

The size of the 2023 MRSZ Media Cake was 351.1 billion forints, while the MRSZ Communication cake was 648.9 billion forints, according to information from the advertising trade organization today, Wednesday.

High inflation is a big bet

The MRSZ stated that the outstanding inflation continued to leave its mark on the performance of the industry, i.e. both cakes increased nominally, but in real terms there is still a decrease.

The media cake decreased by 6.6 percent and the communication cake by 5 percent last year. Within this, the picture is even bleaker for domestic media, i.e. TV, Hungarian digital publications, press, public space, radio and cinema: in real terms, they are 7.2 percentage points below the 2022 level, 17.7 percent below the from 2019. The slices of the communication pie, i.e. the numbers next to media and production costs, paint a little better, showing a “only” 3.1% decrease in real terms.