Turnover in the Hungarian media and communications market increased in nominal terms last year. The communications market climbed by 12.6% to HUF 648.9 billion (EUR 1.6 billion). The media market increased nominally by 11% to HUF 351.1 billion (EUR 888.8 million), including the global players, while in real terms the former shrank by 5% and the latter by 6.6%, according to the Hungarian Advertising Association (MRSZ).
The sectors most affected by the Covid pandemic – cinema and events – improved their results. Of all media segments, cinema recorded the strongest growth in the last two years, 23.6% last year and 25% in 2022. With a volume of HUF 3.4 billion (EUR 8.6 million) in 2023, the segment not only caught up with the advertising expenditure of HUF 3.2 billion (EUR 8.1 million) in 2019 before the Covid crisis, but even exceeded it, at least in nominal terms.
Last year, the digital segment was the dominant channel with HUF 182.6 billion (EUR 462 million). It accounted for 52% of total media expenditure. The influencer marketing market was also included for the first time in 2023. It had a volume of HUF 6.2 billion (EUR 15.6 million).
TV advertising market generated HUF 81.1 billion (EUR 205 million) in 2023. The press realised total revenues of over HUF 113 billion (EUR 286 million) in 2023, of which HUF 37.8 billion (EUR 95.6 million) came from print advertising, HUF 55.07 billion (EUR 139 million) from newspaper sales and HUF 20.9 billion (EUR 52.9 million) from online advertising. The broadcasting segment has increased both its revenue and market share in the last three years and achieved a volume of HUF 14.5 billion (EUR 36.7 million) in 2023. This corresponds to a nominal increase of 17.3%.
At the end of 2023, the communications sector employed almost 115,000 people – including all media and related activities, advertising, media, PR, digital agencies, research companies, event organisers and freelancers.