The local media market slowed down in 2011, registering a 2 per cent year-on-year drop to EUR 309 M, a Media Fact Book survey conducted by Initiative shows, HotNews.ro informs. Likewise, the survey’s authors forecast another 2 per cent drop this year. Alexandra Olteanu, Initiative Managing Director, stated that the market’s decline has slowed down and is expected to stabilize in 2013 according to an optimistic estimate. The value of investments in online advertising grew by 30 per cent year-on-year in 2011, to EUR 34 M. Alexandra Olteanu, Initiative Managing Director, estimates that the online sector will be the only sector that will register growth in 2012 too, namely a growth of approximately 20 per cent. The print sector continued its downward trend in 2011, registering an 8 per cent year-on-year drop, followed by the outdoor sector (7 per cent drop). According to Initiative representatives, the drop registered in the outdoor sector is caused this year by the lack of clear market regulations. Also in 2011, the radio sector registered an investment drop of 5 per cent, from RON 21 to RON 20 M. Telecommunications companies were the largest investors in advertisement last year, with an estimated net figure of EUR 42 M, followed by cosmetics and personal care companies with an estimated net figure of EUR 40 M.