"This is only a forecast figure since we are only in the third quarter," said Dmitry Korobkov, the chairman of the ICC Russian bureau's commission on marketing and advertisement. "Most of the money spent on advertising - up to 40% [of total volume] - comes in the fourth quarter."
Korobkov was addressing a news conference dedicated to the new edition of the Consolidated ICC Code on Advertising and Marketing Communication Practice, which he said set a great level of responsibility for representatives of advertising business circles. He also said it established high ethical standards and guidelines to prevent industry players from violating the country's moral norms and traditions.
Advertising in Russia became a widely discussed issue early this year as lawmakers in the upper chamber of parliament passed a bill introducing tougher regulatory measures to the law on advertising.
In particular, the law bans tobacco and liquor advertising on television and billboards, and prohibits liquor manufacturers from advertising their brand names under the guise of non-alcoholic products. Previously, some television commercials advertised mineral water under brand names more readily associated with vodka.
It also cuts the volume of television adverts to 20% of hourly broadcasts in 2006-2007, and to 15% starting from 2008. The maximum length of an advertisement segment on television is limited to four minutes in contrast to the current average of seven to eight minutes.
