The precise value of the total sales of the companies participating in the research stood at 25,498,023 RON (6 million euros) in the first quarter of 2009, that is a drop by 25 percent on the same interval in 2008, when the total reported value stood at 33,873,413 RON (9,227,801 euros), but a growth by 58 percent against the first quarter of 2007, when the total value stood at only 16,141,519 RON (4,844,538 euros).
The research titled ‘Romanian Online Advertising Study’ (ROADS) was conducted by IAB Romania, an online advertising industry association, in partnership with PricewaterhouseCoopers Romania (PwC). Already at its third edition, the research totaled the direct sales figures of the most important 14 players in the field, but it din not include for instance the revenues posted up by Google for Romania.
‘Despite the drop felt in the first half of the year, we believe that online advertising in Romania still benefits a good growth potential, while taking into account the significant difference between the prices charged by local online advertisers and the ones charged in the other European states’, Ruxandra Bandila, Marketing & Business Development with PwC Romania explained.
‘In fact, the ongoing economic crisis might prove a catalyst for change, from this viewpoint, with increasingly more advertisers allotting significant budgets for online publicity’, she added.