Number of Bulgarian Media Increasing, Mostly Online
The number of media in Bulgaria has increased by 58.7% in the period 2008-2012, the National Statistics Institute (NSI) revealed.
The highest increase is noted in the online news websites, which grew by 248.7% for the 4-year period. Meanwhile, there is a drop in the television enterprises, by 24.6%, and in radio, by 3.5%.
Most media outlets in the country are micro-firms, employing no more than 10 people. The TV industry remains the biggest employer among media, despite registering a 12% drop in staff.
According to Biliyana Tomova of the Observatory for Economics and Culture, the market for electronic media has reached a stage of maturity, but would have trouble growing beyond its current scope. She added that multi-platform enterprises are increasingly pushing away conventional media sources.
There is also a significant decrease, 69%, in foreign investment in Bulgaria's media. Part of this can be attributed to already completed deals in the sector.