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Media revenues in 2024 amounted to 30.3 billion ISK. Of this total, user-generated revenues accounted for just under 18.7 billion ISK, while advertising revenues totaled 11.6 billion ISK. Adjusted for constant prices, total media revenues declined by 3% compared to the previous year. This decrease is attributable to a 4% reduction in user revenues and a 2% contraction in advertising revenues.
Total payments for the placement of advertisements increased by 5% in 2024 compared with a contraction of approximately 3% the previous year, measured at constant prices. The turnaround is explained by increased spending on advertising in foreign media. Payments to foreign media rose by approximately eleven percent, while advertising revenues of domestic media contracted slightly between 2023 and…
In 2023, the revenues of domestic media experienced a decline of 4%. Despite a modest increase in user-generated income of 1.6%, advertising revenues contracted by 12% year-on-year. The predominant cause of this downturn can be traced to the diminishing income of daily and weekly newspapers, which saw a staggering quarter reduction of revenue at constant prices when compared to the previous year.
Publication of a news release on media revenue 2023, which was scheduled today 11 December 2024, has been postponed until 18 December.
Total payments for advertising placements decreased by 3% last year after a one-third increase in the two preceding years following the Covid-19 pandemic, calculated at constant prices. The decline in the advertising market last year was entirely due to lower payments to domestic media. Advertising revenues for domestic media shrank by nearly 10% while payments to foreign media increased by 4%.
Nearly half of advertising money in Iceland in 2022 went to foreign media. Total payments to the media for display of advertisements was 25 billion ISK, thereof 11.5 billion ISK were paid to foreign media, or 46%, and 13.8 billion ISK to domestic media, or 54%.
The total revenue of the media in 2022 was some 29 billion ISK. The revenue changed only slightly from the previous year, after some 5% fall in the wake of the Covid-19 pandemic which began in 2020. The small increase in the media revenue in 2022 is due to increase in advertising revenue which increased by 3% between years at same time as revenue derived from users declined by 1.5%.
The total revenue of the media in 2021 was some 27 billion ISK. This signifies 2% increase from in previous year, when the media revenue did fall by 5% in the wake of the Covid-19 pandemic. The last year’s media revenue equals the revenue in 2015, measured in real prices. Small increase in the media revenue in 2021 is largely due to increase in advertising revenue which increased by 9% between…
More than four of every ten ISK paid for advertisements in Iceland in 2021 went to foreign media. Total payments to the media for display of advertisements approached 22 billion ISK, thereof 9.5 billion ISK were paid to foreign media, or 44%, and 12.3 billion ISK to domestic media, or 54%.
Advertising revenue of domestic media declined between the years 2019 and 2020 by 16% in real prices. Payments for display of advertisements in foreign media fell by the same ratio. Undoubtedly, this can be attributed to less activity in the various areas of society in the wake of the Covid-19 pandemic in 2020.