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 Lithuania, the Ad World Masters Agencies of the Year competition features 2 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 Lithuania
The advertising market in Lithuania is a small but growing industry, driven by the country’s expanding economy and increasing population. According to data from the IAB, the advertising market in Lithuania is valued at around $220 million, with digital advertising making up a significant portion of this growth.
In terms of advertising agencies, Ogilvy is one of the largest in Lithuania and works with a variety of local and international brands. Other major agencies include McCann, Publicis Groupe, and DDB.
In terms of media houses, the largest in Lithuania are LNK, BTV, and LRT. These media houses own a variety of television and radio stations, as well as digital platforms.
E-commerce is also growing rapidly in Lithuania, with online sales in the country expected to reach €1.9 billion by 2023, according to a report by Ecommerce Europe. This growth is driven by increasing internet penetration and the rising popularity of mobile commerce.
Digital advertising in Lithuania is also on the rise, with digital ad spending projected to reach €50 million by 2022, according to data from the IAB. Mobile advertising is the largest segment of digital advertising in the country, accounting for more than 60% of digital ad spending.
One interesting fact about the advertising market in Lithuania is that it is one of the most advanced in the region when it comes to mobile advertising, with a high penetration of smartphones and mobile internet usage among the population.
According to IAB Lithuania, the top 5 ad spenders in Lithuania in 2020 were:
Telco – $9.5 million
FMCG – $8.4 million
Banking – $5.6 million
Automotive – $4.2 million
Pharmaceutical – $3.5 million
According to the Communications Regulatory Authority, the number of internet subscriptions in Lithuania reached 2.4 million in 2020, representing an increase of 2% from the previous year.
In conclusion, the advertising market in Lithuania is a small but growing industry, driven by the country’s expanding economy and increasing population. E-commerce and digital advertising are particularly strong areas of growth, and the country’s advanced mobile infrastructure is leading to a growing focus on mobile advertising.