As the year 2023 begins, Ad World Masters is proud to announce its Agencies of the Year. Our rigorous selection process, which assesses the potential value of each agency, has resulted in the recognition of some of the most outstanding and accomplished agencies in the industry.
The selection process is based on the Agency Score, which is calculated using our proprietary Artificial Intelligence Algorithms. Agencies had until December 31st, 2021 to improve their score and compete for the coveted title of Agency of the Year.
The title of Agency of the Year is granted based on the Agency Score and is divided into three levels of recognition: Gold, Silver and Bronze. Gold is awarded to agencies with scores of 9.2 or higher, Silver is awarded to agencies with scores of 8.7 or higher, and Bronze is awarded to agencies with scores of 8.5 or higher. Each awarded agency will receive a digital badge of “Agency of the Year” for the level they are in.
The results of the competition are categorized by country, depending on the agency’s main location. In Hungary, the Ad World Masters Agencies of the Year competition features 1 Silver, and 1 Bronze winners. These agencies represent the very best in the industry and are a testament to the creativity, innovation, and excellence that define the advertising field.
We would like to extend our heartfelt congratulations to all of the winners and thank all of the participating agencies for their dedication and hard work. We look forward to seeing the impact of their work in the coming year and beyond.
Curious to discover the results of other markets? Explore the results per country and learn more about the competition. If you don’t see your agency listed, sign up, list or claim your agency and you could be nominated for next year!
Insights into the advertising industry in Hungary
The advertising market in Hungary is a relatively small market, valued at around $500 million in 2021. The market is dominated by a few large international agencies such as WPP, Publicis, Ogilvy, Grey, JWT, Scholz & Friends.
Television and digital media are the most important mediums for advertising in Hungary, with television being the traditional leader but digital media is catching up fast. The Hungarian e-commerce market is also growing and is expected to continue to do so in the coming years, as more and more consumers shift to online shopping.
Digital advertising is becoming increasingly important in Hungary as more and more people access the internet through their mobile devices. Social media platforms such as Facebook, Instagram, and YouTube are also increasingly popular among Hungarian consumers, providing new opportunities for businesses to reach their target audiences.
According to IAB Hungary, the internet penetration in the country is over 80% and mobile advertising is expected to grow by around 15% in 2021, accounting for more than 50% of digital advertising spend.
According to a report by eMarketer, online video advertising in Hungary is expected to grow by over 20% in 2021, driven by the increasing popularity of platforms like YouTube, TikTok, and Vimeo.
Another important trend in Hungary’s advertising market is the increasing use of data and technology to target specific consumer segments. For example, companies like Facebook and Google allow advertisers to target consumers based on their online behavior and purchase history.
Statista reports that, in 2020, the top five advertising categories in Hungary were retail, fast-moving consumer goods, automotive, finance, and telecommunications.
In summary, the Hungarian advertising market is a small but well-developed market, with a strong focus on digital and e-commerce, and with a lot of potential for growth in the future.