Headline: Media and Advertising Investments Skyrocket by 148.6% in 2024
According to a report on Estimated Media and Advertising Investments in Turkey, total media and advertising investments in the first half 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 held the largest share of media investments at 71.2%, while all media channels experienced growth. The platforms that grew the most in terms of percentage were digital, radio, outdoor, and television, respectively.
Prepared by an independent consultancy, the report highlights that during the first half of 2024, media investments accounted for 93.25 billion TL, while advertising investments reached 18.53 billion TL. By the end of 2023, the total investment amounted to 148.6 billion TL.
Digital investments commanded a 71.2% share of media investments. In the first half of 2024, organized media and TV investments saw a 127.2% increase, totaling 71.21 billion TL. The influence of technology on marketing strategies became more pronounced with digital media investments reaching 66 billion TL, up from 24.71 billion TL in the same period of the previous year. Digital media's share in total media and advertising investments was 71.2%.
The influencer market, which exceeded 3 billion TL, was given a separate category in the report due to its market size. Influencer media investments grew by 87% over the same period last year, reaching 3.1 billion TL. Social media investments increased by 45% to 30 billion TL, while programmatic buying rose to 40.7 billion TL, an increase of 61%. Native investments saw a 4% growth to 2.68 billion TL.
Video advertising, display advertising, and search engine categories retained their position as the largest segments within digital media investments. Meanwhile, new formats like Connected TV and digital audio experienced the highest growth rates in the digital media ecosystem, reinforcing Turkey's position as the fastest-growing market for digital media investments in Europe.
Mobile advertising claimed a 78.5% share, with video accounting for 34% of digital media investments at 22.8 billion TL. This was followed by display and click-based advertising (30% - 19.6 billion TL), search engines (18% - 11.8 billion TL), classified ads (8% - 4.98 billion TL), and influencer marketing (5% - 3.1 billion TL). The daily average time spent on mobile devices reached 4 hours and 26 minutes, and the impact of AI technologies on advertising and marketing processes became more evident.
Digital audio advertising experienced rapid growth, with a 175% increase to 1.13 billion TL in the first half of 2024, driven by an increase in podcast listeners and radio audiences tuning in online.
TV investments grew by 107.5%, surpassing 20 billion TL, with a sector share of 38.5%. After digital, the radio market saw the fastest growth, expanding by 154.7% to reach 1.4 billion TL.
Outdoor investments grew by 120.3% to 4.49 billion TL, with a sector share of 8.5. The demand for outdoor media continued to rise, spurred by new and diverse unit investments, predominantly digital.
Print media investments increased by 58.6% to 553.6 million TL, despite accounting for only 1.1% of the organized media sector share. Newspaper usage grew by 45%, although circulation decreased by 10% due to rising paper and ink costs, while magazine usage surged by 143% thanks to event organization efforts.
Cinema represented 0.2% of media investments within the organized media sector, growing 67.5% compared to the first half of 2023. In the first half of 2024, there was a 33% increase with 221 films released.