Advertising, Baltic, Crisis, Markets and Companies

The best results are demonstrated by the Estonian media, according to analysis carried out by "Re:Baltica" and Center for Media Studies at Stockholm School of Economics in Riga.

The study shows that five years after the beginning of the financial crisis, 39 out of 49 media companies still have lower turnover than in 2008. These companies run 75 of the most popular media in the Baltics.

Newspapers suffered the most. Of publishers that print the 15 most popular newspapers in the Baltic States, seven were still in the red last year, the study reveals.

Latvian newspaper Diena was hit the hardest – its business has shrunk about 76 percent. Overall, Lithuania's newspaper market suffered the most with a 41.2 – 72.4 percent decline in turnover.

Estonian newspapers are an exception – their losses make up only a few percent of their total turnover.

The study has also found that the Baltic readers have different tastes – people in Lithuania prefer advice and celebrity gossip magazines, people in Latvia prefer celebrity and women's magazines, whereas people in Estonia also like to read history and science magazines.