Hungary’s TV advertising revenue rises for first time in five years, survey suggests

By bne IntelliNews February 20, 2015

Net revenue from TV advertising in Hungary increased by 10% to reach HUF50bn (€164mn) in 2014, a survey by programming association MEME and Ernst & Young suggested on February 20.

The increase is the first for the past five years, MEME chairman Krisztian Kovacs said. Advertising revenue of terrestrial broadcasters, which accounts for 64% of the total, stagnated last year, but revenue from other sources climbed 28%, MTI reported.

The revenue growth comes amidst Budapest's controversial tax on media, which is based on revenue from advertising. The government the progressive tax last year. 

The 50% levy imposed on the top band of companies with annual advertising revenue of more than HUF20bn applies only to German-owned RTL Klub, the country’s most popular TV station, which has been heavily critical of Viktor Orban’s government. However, media companies across the spectrum complained, noting that the tax is not waged against profit.

However, as the approval ratings of the ruling Fidesz plunged in recent months, the government reportedly sought peace with RTL in a behind-the-scenes deal agreed in January. Reports claim the government offered to cut the ad tax in return for less critical news coverage.

The government now looks set to adapt the levy to a flat rate, which however, will place greater stress on smaller players. 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EU, Uzbekistan forge partnership aiming to pave way for critical raw material supplies

The European Union on April 5 signed a memorandum of understanding (MoU) with Uzbekistan ... more

Brand Finance releases ranking of Uzbekistan's Top 20 most valuable brands

London-headquartered brand valuation consultancy Brand Finance has released its latest list of the 20 most valuable domestic brands in Uzbekistan. Leading the pack is Uztelecom, with a brand ... more

Kazakhstan and Uzbekistan’s combined IT exports surpass $800mn

Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more

Follow Us On

Most Read

  1. Russia’s war economy boosted by rising oil prices
    7 days ago
  2. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    5 days ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    5 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Iran vs Israel: Who is better equipped for war?
    9 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    23 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    28 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    26 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss