The online advertising market in Bulgaria is poised to grow by 20% to 35.4 million euro ($45.1 million) in 2012 after expanding 12% last year, the CEO of local web media group Investor.bg said on Thursday.
The share that online advertising has on the overall market will reach 9.3% this year, up from an estimated 8.0% in 2011, on its way to a 16.3% share in 2015, news portal Investor.bg quoted Stuart Till as saying during a working breakfast with reporters.
Online advertising in Bulgaria is expected to post growth rates of 25% between 2013 and 2015.
Till said that display advertising is the category growing most rapidly in the country in line with global trends. However, advertising on mobile devices is still lagging behind the penetration rate of smartphones in the country, he noted.
Bulgaria, a country of around 7.3 million, had 3.5 million Internet users by the end of 2011, according to data from online research agency Gemius.