Headline: Media and Advertising Investments Surpass 111 Billion TL in the First Half of 2024
According to the "Estimated Media and Advertising Investments in Turkey Report," total media and advertising investments in the first six months of 2024 surged by 148.6% compared to the same period of the previous year, reaching 111.78 billion TL. As in previous years, digital media took the largest share of media investments with 71.2%, while growth was observed across all platforms. The fastest-growing channels in proportional terms were digital, radio, outdoor, and television.
The report, prepared by the independent consultancy firm Deloitte on behalf of various advertising and media associations, highlights that total media and advertising investments rose to 111.78 billion TL in the first half of 2024, with media investments accounting for 93.25 billion TL and advertising investments comprising 18.53 billion TL. At the end of 2023, the total investment amount was recorded at 148.6 billion TL.
Digital investments continued to dominate media investments, claiming a 71.2% share. In the first half of 2024, organized media and TV investments increased by 127.2%, reaching 71.21 billion TL, with media investments at 52.68 billion TL and advertising investments at 18.53 billion TL. Digital media investments greatly influenced marketing strategies with technology in 2024. Compared to the same period last year, digital total media investments (organized and direct purchasing) rose to 66 billion 345 million TL from 24.71 billion TL. The share of digital in total media and advertising investments was 71.2%.
The influencer market, exceeding 3 billion TL in the first half of the year, was separately addressed in the report. Having previously been categorized under "Other" in the digital market, influencer media investments were given their own section due to their expanded market size, experiencing an 87% increase to reach 3.1 billion TL. Social media investments surged by 45% to 30 billion 70 million TL, while digital purchase (programmatic) investments increased by 61% to 40 billion 697 million TL. Native investments increased by 4% to 2 billion 678 million TL.
Video advertising, display ads, and search engine categories maintained the largest shares within digital media investments. New formats like Connected TV and digital audio emerged as rapidly growing areas within the digital media ecosystem. With these growth figures, Turkey reinforced its position as the fastest-growing market in Europe for digital media investments.
Mobile advertising accounted for 78.5% of digital media investments within the first six months of the year. Video investments led with a 34% share (22.8 billion TL), followed by display and click-based (30% - 19.6 billion TL), search engine (18% - 11.8 billion TL), classified ads (8% - 4.98 billion TL), and influencer (5% - 3.1 billion TL). The average daily time spent on mobile devices reached 4 hours and 26 minutes, with social media platform usage and active user numbers playing a significant role in driving digital strategies to focus on mobile platforms. Social media advertising continued to hold a substantial share in digital investments. The impact of artificial intelligence technologies in advertising and marketing processes became increasingly pronounced.
Digital audio advertising grew rapidly by 175% in the first half of 2024, reaching a volume of 1.13 billion TL. This growth was supported by more than 650,000 active podcast listeners in Turkey and 60% of radio listeners tuning in via online platforms.
TV investments grew by 107.5% in the first six months, exceeding 20 billion TL with a 38.5% share in the organized media sector. Radio emerged as the fastest growing market after digital, with growth accelerating by 154.7% to reach 1.4 billion TL as brands increasingly turned to radio for marketing.
Outdoor investments expanded by 120.3% compared to the same period last year, reaching 4.49 billion TL with an 8.5% share in the organized media sector. The continued demand for outdoor platforms and investment in new and diverse units, predominantly digital, suggested that similar developments would continue in line with global trends.
Press investments rose by 58.6% to 553.6 million TL during this period. Although proportionally small, written press media investments accounted for a 1.1% share of Turkey's organized media sector. Newspaper usage increased by 45% versus the same period last year, despite rising paper and ink costs presenting challenges, leading to a 10% decline in circulation. Magazine usage saw an increase of 143%, attributed to event arrangements.
The cinema sector accounted for 0.2% of media investments in the organized media sector, experiencing a 67.5% growth compared to the first half of 2023. The first half of 2024 saw a 33% growth, with 221 films released in cinemas.