The audit and consulting giant Deloitte Turkey on Thursday revealed that investments made in Turkey’s media and advertising sectors reached TL 17.47 billion ($2.48 billion) in 2020.
The investments in media totaled TL 13.97 billion ($1.99 billion), while investments in advertising reached TL 3.49 billion ($497 million), Deloitte's report showed.
Last year, the retail trade, health and cleaning sectors posted the highest increases in media and advertising investments.
While investments in digital and television media increased by 39% and 23%, respectively, they decreased in radio (10%), outdoor advertising (15%) and press (28%). Overall investments increased by 24% year-on-year in 2020.
The digital medium took the lion's share of investments with 54%, followed by television (36%), outdoor advertising (5%), press (3%), radio (2%) and cinema (0.2%).
Turkey, in terms of the size of media investments, is the world's 31st largest market, with a share of 0.33% in total volume.
The report also showed that investments in media and advertising worldwide increased by 5.6% in 2020, compared to the previous year, to reach $605 billion. Digital media outlets' share in overall investments was 52% in 2020, which was up from 40% in 2017.
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