The Irish advertising market will continue to remain difficult in 2013 according to forecasts by Core Media.
The agency group is forecasting a modest 0.7% growth for the overall market in Ireland but this growth will be led by an expected 11% increase in digital advertising.
“After five consecutive years of decline, we believe the market will now begin to reflect the stability and delicate growth that we are seeing elsewhere in the economy. Overall we forecast 0.7% growth to a total of €698m but this is been driven by the digital sector, which we expect to increase by almost 11% in the Republic. Excluding digital, the underlying position is less favorable, showing a decline of 2%,” says Alan Cox, CEO of Core Media.
According to Core Media’s forecasts TV advertising this year is likely to weigh in at around €202m, up slightly on the estimated €200m spent last year but considerably down on the €213m spent in 2011.
Print, including newspapers and magazines, should attract around €170m in advertising revenues, down on the €184m last year and the €215m in 2011.
The next biggest category and the only growth area is digital advertising which is expected to grow to €167m this year, up from €150m last year and €130m in 2011.
The radio market is expected to show some level of improvement with advertising spend likely to increase to €98.5m this year up from €97m last year. Elsewhere OOH is also expected to dip from €54m last year to €53m this year according to Core Media.
2013 Media Breakdown
Source: Core Media estimates