Swedish advertising market booms

The Swedish advertising market grew by a record 8 percent in the first quarter of the year, although growth levelled off in April for most media.

Strong economic growth is having a positive effect on the media market, according to Institute for Advertising and Media Statistics (IRM), which compiled the statistics. The Institute predicts that total growth for the year will be 6 percent.

Total media investments for the year are expected to reach 32 billion kronor ($4.6 billion).

Growth next year will be somewhat lower at around 4 percent, IRM predicts, with spending expected to be around 33 billion kronor. Internet advertising is expected to increase by over 30 percent compared with last year.