Ad Spending in Russia Bucks European Uncertainty

The FINANCIAL — Western Europe is staring down economic uncertainty, but that hasn’t put much of a damper on Eastern Europe’s growth prospects.

Russia'a economy is barreling full steam ahead, and the media and advertising industry is no exception.

eMarketer estimates that total media ad spending in Russia increased 20.5% in 2011, up from 16% in 2010. In 2012, continued growth is forecast at 15%.

Russia is pulling up the average across Eastern Europe, as some countries to its west are tied more closely to, and more dependent on, the struggling European Union. As a result, eMarketer expects Russia to increase its share of total media spending in Eastern Europe from 41.6% in 2011 to 43.7% in 2012. As eMarketer reported, continued strong growth in the country will result in near parity of spending between Russia and the rest of Eastern Europe by 2016.