Latvian ad market shows steep decline

By FNE Staff
    The Latvian Advertising Association announced a 42% decline in the media advertising market in the first half of 2009.
    According to The Baltic Course, TV advertising dropped by 36%, ads in cinemas by 35% and internet advertising by 24%. Television has the largest share of the Latvian market: 40%, amounting to LVL 11.5 billion (16/7 million Euros). The market overall had grown by 3% in 2008.