The volume of Bulgaria's Internet advertising market continued to grow in 2012, by 25.1%, according to a study conducted by business organization IAB Bulgaria.
Gross investments made in on-line advertising reached 45.5 million levs ($30.3 million/23.3 million euro) last year compared with 36.3 million levs in 2011, daily Dnevnik reported, quoting the study findings.
The study was based on data supplied by the country's 21 largest companies in the sector, which, according to IAB Bulgaria, account for 80% of the total market. If ads in Google and Facebook are included, the total figure would be some 59.2 million levs, according to the study.
Banner advertising accounted for over 88% of the total market volume.