Advertising, Good for Business, Latvia, Markets and Companies, Telecomunications

The "Top 10" media, advertising education, and creative industries companies last year were TV3 Latvia (EUR 14.8 million turnover), Viasat (EUR 13.7 million turnover in 2012), Apgads Zvaizgne ABC (EUR 12.9 million turnover), Latvijas Nacionala opera (EUR 10.6 million turnover), MMS Comunications Latvia (EUR 9.9 million turnover), Inspired (EUR 9.3 million turnover) Ask.fm (EUR 9.2 million turnover).

According to the Latvian Business Annual Report 2014, state-owned companies have increased their income last year – the Latvia State Radio and Television Center has finally escaped losses. Latvian Television, Latvian Radio, and several private media companies have also increased their income. Advertising agencies have shown improved performance as well.

Television currently plays the largest role in the Latvian advertising market. According to data provided by the Latvian Advertising Association, television takes 44% of the market share. There are no indications that the industry will lose its positions in the near future, nevertheless, the advertising market in this industry has become slightly stagnant, CEO of Latvian Association of Broadcasters says.