According to a study by Initiative Media, television has the major share, with 225 million euro expected in 2009, compared to 337 million euro in 2008. It is estimated that TV budget will drop 33% by the end of 2009. The budgets for print and radio are to drop by 50% and 30%. Outdoor advertising will also drop some 35-40%.

Internet and cinema advertising are estimated at 13 million euro in 2009, compared to 16 million euro in 2008.

The report predicts that many TV channels are close to bankruptcy given the financial crisis, while others are investing heavily in programs in order to increase their market share. The cumulative market share of the Top 5 Romanian channels will likely grow in 2009 compared with the remaining channels.

The study was published in Media Fact Book 2009, released on October 19.