InsiderEconomyDigital advertising expenditure in Cyprus increases by 14% in 2020

Digital advertising expenditure in Cyprus increases by 14% in 2020

The cost for digital advertising in Cyprus showed an increase of 14% in 2020 compared to 2019, while the total advertising expenditure for 2020 is slightly reduced on an annual basis, according to a research carried out by Pulse Market Research, on behalf of the Cyprus Advertisers, entiled «Digital Adverstising Share in Cyprus Market”.

The research concerns the expenditure in digital advertising in Cyprus in 2019, as well as the estimates for 2020.

The results were presented and analysed by Panayiotis Panayiotou, Director of Pulse Market Research. According to the research, the total advertising cost in 2020 is slightly reduced compared to 2019.

“We estimate  that the decrease is from 3 to 6%,” he said.

He noted that digital advertising on the other hand, increased by 14% in 2020 compared to 2019. In addition, the estimate of the share of digital advertising in the total advertising investment in 2020 is at 14%, based on the data and estimates given by the companies, included in the sample, during the third quarter of 2020. It is noted that 65% of the sample concerned companies with 100 staff.

According to the research, the share of digital advertising spending in 2020 is linked to the company`s total investment in advertising as follows. Companies with a total cost of advertising up to 400,000 euros show a share of digital advertising costs at 34%, companies with a total cost of advertising from 400,001 to 500,000 euros have a share of digital advertising costs at 17%, companies with a total cost of advertising more than 500,000 euros have a share of digital advertising spending at 7%.

The increase in the cost of digital advertising is related to the company`s total investment in advertising as follows: Companies with a total cost of advertising up to 400,000 euro at 23%, companies with a total cost of advertising from 400,001 to 500,000 euro at 11% and companies with a total cost of advertising more than 500,000 euro at 4%.

As regards advertising in social media, facebook ranks first with 98%, followed by instagram (90%) and youtube (71%).

(CNA)

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