Online advertising in Russia, which was behind the print media from January to September 2011, experienced the highest growth rate. The ad revenues for print media during this period was $1 billion whereas the revenues of online advertising was $900 million. However, there had been a drastic change and the online ad revenues had surpassed those of print media in the third quarter of 2011.
As per the Association of Russian communication agencies, online advertising revenues in this period had exceeded expectations to rise by 57 percent 
to a total of 300 million. Online advertising occupied the highest place in terms of revenues followed by television in terms of media ad revenues. According to the report, television revenues grew by 25 percent to reach $250 million and advertising revenues for print media increased 7 percent to reach $250 million.
About $500-600 million was spent by advertisers on contextual advertising. It is a form of targeted advertising for advertisements appearing on websites or mobile browsers. This mode of advertising scans the text of a website for keywords and return advertisements to the web page based on what the user is viewing. This mode of advertising had experienced 63 percent growth in comparison with the last year in Russia. About 49% of the online ad revenues was constituted by display advertising that includes banners and ads on websites. These revenues accounted for $300-350 million. The study reported that the growth of online advertising in the country is expected to increase further in the coming years.