Adopting digital press: media transformation and advertising dynamics in Southeastern Europe

This study examines the Southeastern European press market from 2019 to 2023, focusing on the relationship between advertising revenue and readership across print and digital media. The period is marked by declining print and rising digital revenue, driven by shifting audience preferences. Using pooled OLS regression with regional and time controls, the analysis identifies press freedom (WPFI) as a key determinant of market performance: greater press freedom correlates with higher advertising revenues, while limited freedom drives audiences toward digital press for alternative viewpoints. Political corruption in the region further undermines the digital press’s ability to monetize effectively through advertising. Demographically, print press remains more popular among older audiences, while digital usage by younger groups shows a negative correlation. The relationship between digital and print media is complex: while digital advertising revenue increases with higher print readership – suggesting a form of cross-platform support – greater digital use is negatively associated with print advertising revenue. These mixed patterns point to both complementary and substitutional tendencies, shaped by broader economic and institutional factors. The findings offer useful insights into the evolving media landscape, where traditional and digital formats interact in overlapping and sometimes competing ways.