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Home/News/The marketing communications market in Serbia continues to grow in all financial parameters

The marketing communications market in Serbia continues to grow in all financial parameters

The marketing communications market in Serbia continues to grow in all financial parameters, but the trend of fragmentation of the market and the opening of small specialized agencies is also noticeable, according to research conducted by the Marketing Network.

#AgencyReport19 states that the total business revenues of companies engaged in marketing communications in Serbia amounted to 48.27 billion serbian dinars in 2018, an increase of 8.23% compared to two years ago.

Total net profit at the industry level in Serbia totaled 2.5 billion serbian dinars last year, an increase of 2.14% over 2017.

Agencies that were the subject of the analysis operate in the highest percentage (32%) of six to ten years, as well as zero to five years and eleven to fifteen years (27% each).

The #AgencyReport19 study found that as many as 31 new agencies were opened in Serbia in just one year, with the most being newly opened market communications agencies, as many as 13, followed by digital communications agencies, 9 of them.

In 2018, media leasing agencies and advertising plan programming had the largest market share in 2018, with 46.68%. This group of agencies has generated operating income of about 22.53 billion serbian dinars, while net profit is just over 1.48 billion serbian dinars.

Only marketing and social research agencies (-3.24 percent) saw a fall in industry-wide business revenue.

The highest percentage increase in revenue in the last year was recorded by digital marketing agencies (22.46%) and public relations agencies (18.30%).

When it comes to the number of employees at the industry level, agencies in Serbia employ over 3,500 people (without entrepreneurs). The industry-wide headcount in 2018 has increased 4.93%.

Agency Report is a long-term project of the Marketing Network, and the first study was conducted last year.