7. Advertising Agency
Advertising Agencies in Ethiopia are experiencing a huge increase in the prices that companies are offering them.
In 2016, there were a little over 1,000 licensed advertising agencies in Ethiopia, these to cater to the hundreds of thousands of businesses.
Although the number of agencies is increasing, there is no decline in the prices being offered, instead they are increasing dramatically.
In the past the often used TV and radio medium has now reached costs ranging from 250,000 ETB or 9,300 USD for a one minute TV advertisement segment to 25,000 ETB or 926 USD for a one minute radio broadcast.
These high prices are causing companies to look towards different venues for advertising their products. This is where Ethiopian advertising companies can fill in the gap and expect to get lucrative profits.
Furthermore, the advertising sector is protected by Ethiopian law, in that only Ethiopian and foreign nationals of Ethiopian origin can participate, although, the law allows advertisements produced by foreigners, as long as it is done through an Ethiopian advertising agent.
Advertising agencies in Ethiopia should also offer newer services such as market research, developing strategies, and undertaking public relations.
Example: 251 Advertising agency which began in 2011 now has over 70 companies as clients, and some include the huge brewery companies that spend upwards of 50,000,000 ETB or 1,852,000 USD to 100,000,000 ETB or 3,704,000 USD a year alone on advertising.