Ad investments turned to growth in June
Summary
- In June, media advertising volumes in Finland grew by 4.5% year-on-year, despite a cumulative decrease of 4.5% earlier in the year, according to Fifty5Blue.
- Online media advertising increased by 9%, while printed newspapers saw a 9% decline; TV and radio advertising grew by nearly 5% and 6%, respectively, and out-of-home advertising surged by 14%.
- Media advertising accounted for approximately 15% of Sanoma's revenue, 17% of Alma Media's revenue, and 33% of Keskisuomalainen's revenue in 2025, highlighting its significance for these companies.
- The strong June performance aligned with expectations for the quarter, but company-specific media business developments may vary, prompting potential forecast revisions in Q2 earnings previews.
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According to statistics published by Fifty5Blue (formerly Kantar), media advertising volumes in Finland grew at a solid pace of 4.5% year-on-year in June. Following the weaker months earlier in the year, the market has cumulatively decreased by 4.5% against corresponding prior-year period.
Twofold developments as per usual
Examining by media segment, market development in June was bifurcated, reflecting typical market trends. Advertising in printed newspapers, which suffer from structural decline, decreased by 9%, while online media, benefiting from the digital transition, grew by as much as 9%. TV and radio advertising also achieved growth of nearly 5% and 6%, respectively. At the same time, out-of-home advertising, which has been growing for a longer period, surged by as much as 14% year-on-year. Among advertiser groups, brand advertising grew by just under 9% and retail advertising by ~1%. Classified advertising, on the other hand, decreased by 5% from the comparison period.
Based on the latest published annual figures (2025), Finnish media advertising accounted for approximately 15% of Sanoma's revenue and about 17% of Alma Media's revenue, according to our calculations. For Keskisuomalainen, the figure is considerably higher, as media advertising accounted for 33% of the company's revenue (2025). Thus, the development of media advertising is a relevant driver for these companies. As a result of Ilkka's acquisition of Kaleva, the development of the media market does not directly affect its operating figures, but the performance of the associate company Kaleva impacts Ilkka's earnings per share.
The strong performance in June brought the quarter's overall development back in line with our expectations, following weaker-than-anticipated figures in April and May. We would, however, like to point out that the company-specific development of media businesses may differ from the overall market development, as the relative proportions of different media groups vary considerably between companies. We will consider any potential minor company-specific forecast revisions in connection with our Q2 earnings previews.
Development of Finnish media advertising
Source: Fifty5Blue, Inderes
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