News

The market grows by 17.9%, with social media and video among the key drivers of growth

Net internet advertising budgets in Bulgaria reached €138 million in 2025, compared with €117.1 million a year earlier, representing a 17.9% increase. This is shown by the results of AdEx 2025, presented by IAB Bulgaria.

The results outline a market that is not only growing but also changing its structure. Investment in social media increased by 38.5%, with TikTok making a significant contribution to this growth. Video is also playing an increasingly important role, with video display advertising growing by 43.7%, while influencer marketing recorded a 24.5% increase.

Commenting on the market dynamics and the changes in the way advertisers use digital channels, Lazar Malakov, Customer Success Director at Aleph, said:

“When we conducted the first IAB AdEx study 15 years ago, the industry came together with the goal of achieving greater transparency and providing reliable data on the development of the online advertising market in Bulgaria. Today, changes are happening at an incredibly fast pace – TikTok with 356% growth, new formats, AI advertising… This study is invaluable.”

Among the leading industries in terms of digital advertising budgets in 2025 are hobbies, fashion and sports, retail chains, financial services, beverages and cosmetics. In total, the eight leading sectors account for nearly 80% of the reported budgets by industry.

Data from the participating media companies place Coca-Cola Bulgaria at the top of the list of digital advertisers, followed by efbet, DSK Bank, Kaufland Bulgaria and Vivacom. The ranking is index-based and does not disclose the specific investments made by individual advertisers.

A perspective on how these trends are influencing the development of the digital environment and new models in the publishing business was presented by Irina Porrouzian, CRO at Netinfo. According to her, advertising investments are not disappearing but are being redistributed. This creates a need for publishers to develop not only traffic, but also their own audiences, content and different ways of reaching consumers.

The conversation continued with the panel discussion “Where Do We Go From Here?”, which brought together the perspectives of advertisers, media companies and agencies on the changing media mix, new consumption patterns and the direction in which digital investments are heading.

AdEx 2025 is the result of the joint efforts of IAB Bulgaria and companies across the digital ecosystem, whose participation made it possible to build an up-to-date picture of the market. IPSOS provided the independent collection and processing of the data, while Aleph contributed its expertise to the preparation and analysis of the results and supported the implementation of the initiative. Netinfo is a strategic partner of the event, with media support provided by bTV, Economedia and 168 Chasa.

The full results of AdEx 2025 will be made available to IAB Bulgaria members, while summarized data and key trends will be shared with the wider business community.