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. Last Updated: 07/27/2016

Advertising Spending Surges

Advertising spending in Russia surged to a record in the first quarter as companies including Procter & Gamble and Mobile TeleSystems sought to gain market share in a rapidly expanding economy, according to research by the Association of Communication Agencies in Russia.

Spending jumped to $1.83 billion in the period from $1.37 billion a year earlier, the association said. Television commercials accounted for half of the total, $900 million, as companies spent $6.30 trying to reach each of the country's 143 million people.

"This is by far the best quarter since advertising in modern Russia began in the 1990s," said Vladimir Yevstafyev, vice president of the association, on Wednesday. "The results were powerful in every medium."

Yevstafyev said rates for nationwide television commercials have surged 40 percent since a law came into effect in July limiting the amount of time networks can air ads.

That in turn has driven up rates for radio, billboard, newspaper and Internet advertisements.

The biggest growth medium is the Internet, where ad revenue advanced 65 percent in the period to about $33 million, as more people spent more time online, the association said.