MUMBAI: According to the Bulgarian Association of Communication Agencies (BACA) internet advertising in Bulgaria has shown a double digit growth for 2011. This is, however, in the light of an overall shrinking of the advertising market during 2011 by 6 per cent in net value. The Association has a positive outlook for growth of the advertising market in the country and predicts it to grow at three to four per cent in 2012.

The body informed that the growth of the market segment for 2011 has been 15 per cent in gross value and 11.4 per cent in net value. Internet advertising has continued to increase its market share, reaching 8 per cent and topping radio advertising.

According to representatives from BACA, advertising will continue to move toward popular channels such as Google and Facebook. For 2011, the gross value of the advertising marked in Bulgaria has reached close to BGN 1 billion, with net profits tabled reaching BGN 42 million.

However, TV still commands the largest share with BGN 700 million of gross revenue followed by print media at BGN 150 million. Print magazines have registered a significant drop of 15 per cent in advertising volumes, while newspapers grew by 5 per cent growth in the segment.

Radio advertising has made BGN 72 million gross value, while outdoor advertising clocked BGN 70 million.