Rapid growth in Swedish media market

The Swedish media market is growing, according to the Institute of Advertising and Media Statistics, which released its annual forecast on Wednesday.

The first quarter of 2005 saw an increase in advertising expenditure of 5.1% compared to the same period last year. This outstripped expectations and led the institute to revise its annual growth forecast up from 4.5% to 6.2%.

A total media expenditure of 26.7 billion kronor is now anticipated for 2005.

The institute described the online advertising market as “the big winner” with double digit growth predicted for the year.

Other media experiencing a rapid rise are the evening and free press, radio, cinema and unaddressed direct marketing.