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. Last Updated: 07/27/2016

Russian Ads Sales Surge to a Record $6.5Bln

Russian advertising sales surged by almost one-third last year to a record $6.5 billion as an eighth year of economic growth boosted incomes and spending on consumer goods and services.

Ad spending jumped 29 percent last year, led by Internet and television, from $5.03 billion a year earlier, the Association of Communication Agencies in Russia said in a statement Thursday.

Spending on Internet ads climbed 67 percent to $100 million, the association said. Spending on television commercials grew 36 percent to $3.2 billion, equal to about $22 for each of the country's 143 million people.

Corporate spending on billboards and building facades increased 30 percent to $1.2 billion, while radio advertisements rose 17 percent to $350 million. Print media ad sales grew 18 percent to $1.6 billion, with more than 40 percent generated by magazines.

A strong performer in the Internet ads sector was Yandex which reported a twofold increase in revenues Wednesday.

Preliminary estimates put its revenues for 2006 at $72 million.

Vedomosti reported Friday that advertising on the Internet could increase 60 percent in 2007.

(Bloomberg, MT)