Media Market Dynamics. 2026 Forecast 

Ukraine’s media market continues to recover, but the figures in hryvnias and US dollars tell two different stories.

After falling by 63% in 2022, the market entered a period of rapid recovery: +84% in 2023, +32% in 2024, and +12% in 2025.

Another 12% increase is forecast for 2026, bringing the market to UAH 37.4 billion. This is already above the nominal 2021 level of UAH 33.1 billion.

However, a full recovery has yet to happen in dollar terms. The projected USD 882 million remains approximately 20% below the USD 1.1 billion recorded in 2021. This means that part of the growth in hryvnias reflects not only an increase in advertising activity but also exchange-rate movements and rising media placement costs.

At the same time, consistent double-digit growth suggests that businesses are once again treating media as a tool for development rather than merely maintaining visibility.

For agencies, this means providing stronger budget justification, comparing channels more accurately, and demonstrating business impact rather than impressions alone.

How do you interpret this forecast: is the market truly returning to growth, or are we seeing only a nominal recovery?

Data processed by Media Systems