Internet advertizing in Bulgaria has grown with some 11-15% for 2011, according to data revealed by the Bulgarian Association of Communication Agencies (BACA).

The growth of the market segment for last year has been 15% in gross value and 11.4% in net value, said BACA, formerly known as the Association of Advertising Agencies in Bulgaria.

This development is set against a backdrop of a shrinking of the overall advertising market during 2011 with some 6% in net value, announced BACA at an event Tuesday.

However, the Association has a positive outlook for growth of the advertising market in Bulgaria with some 3-4% for 2012.

Internet advertising has continued to increase its market share, reaching 8% and topping radio advertising.

Advertising will continue to move toward popular channels such as Google and Facebook, commented BACA representatives.

For 2011, the gross value of the advertising marked in Bulgaria has reached close to BGN 1 B, with net profits tabled reaching BGN 42 M.

TV has still by far the largest share, with BGN 700 of gross revenue, followed by printed media at BGN 150 M.

Here magazines have registered a significant drop of 15% in advertising volumes, while newspapers have tabled a 5% growth of the segment.

Radio advertising has made BGN 72 M gross value, while outdoors advertising BGN 70 M.

According to businessman Krasimir Gergov, increased public procurement on the part of the state will account for the expected increase in the advertising market during 2012.