1.0Market Snapshot
- 5,114
- Advertising agencies (4,933) and sellers of advertising time and space (181) in 2024 (BFS STATENT, NOGA 73.11 and 73.12). Web-development firms and PR consultancies are counted in other classes and are not included.
- 20,800
- Employees in these businesses in 2024 (BFS STATENT), 15,083 full-time equivalents; about 4.1 employees per business.
- −8.6%
- Employment change from 2023 to 2024 (BFS STATENT). Since 2011 the number of businesses has risen 39.5% while employment has fallen 12.6%.
According to Val Index analysis of Swiss commercial-register and federal data (2026), Switzerland counts 5,114 digital marketing & agencies companies — Advertising agencies (4,933) and sellers of advertising time and space (181) in 2024 (BFS STATENT, NOGA 73.11 and 73.12). Web-development firms and PR consultancies are counted in other classes and are not included..
2.0Industry Overview
BFS counted 5,114 advertising agencies and sellers of advertising space with 20,800 employees in 2024 (STATENT, NOGA 73.11 and 73.12). The sector is fragmenting: there are 39.5% more businesses than in 2011 but 12.6% fewer employees, and the average business has shrunk from 6.5 to 4.1 people. Employment fell 8.6% in 2024 alone. Web-development firms and PR consultancies are counted in other classes.
3.0Industry Health Check (SWOT)
- Multilingual, high-income market with demanding clients
- Shrinking average firm size and falling employment
- Performance, data and retail-media services
- Advertising budgets flowing to Google, YouTube and social media abroad
Unlock full Digital Marketing & Agencies intelligence
Market trends, cost structure, key players, succession analysis and regional clusters for Digital Marketing & Agencies — free with Market Pulse, our monthly letter on Swiss deals.
Includes one letter a month on Swiss deals. Unsubscribe anytime.
Digital Marketing & Agencies business valuation in Switzerland
- Statutory Multiple (EBITDA)
- 3.5 - 5.5×
- Deal Multiple (EBITDA)
- 4.5 - 7.0×
- Market Trend
- Stable
Indicative ranges based on market research. Actual multiples vary by company size, growth, and market conditions.
8.0Regional Clusters
Zurich
1,349 businesses with 7,228 employees in 2024 (BFS STATENT), 35% of the sector's employment; Webrepublic, Publicis, Jung von Matt, Wirz and Dept are registered here and Goldbach in Küsnacht.
Western Switzerland
1,023 businesses with 3,045 employees; APG|SGA's holding company is registered in Geneva.
Eastern Switzerland
691 businesses with 2,321 employees.
Central Switzerland
644 businesses with 3,426 employees, 5.3 per business on average; Zug alone has 1,530 employees in 203 businesses.
Northwestern Switzerland
563 businesses with 2,143 employees.
Bern and Solothurn
533 businesses with 1,934 employees; ads&figures is in Bern.
Ticino
290 businesses with 696 employees, the smallest on average (2.4 per business).
Sources
9.0Frequently Asked Questions
▶How much is a digital marketing agency worth in Switzerland?
ValIndex's multiples table puts Swiss digital marketing agencies at 4.5–7.0× EBITDA in transactions and 3.5–5.5× EBITDA on statutory valuations. Agencies with recurring retainers and diversified clients sit at the upper end; project agencies dependent on their founder at the lower end.
▶What drives the value of a Swiss advertising or digital agency?
Buyers price: (1) recurring retainers; (2) client diversification and retention; (3) specialist skills such as performance marketing, data and marketing technology; (4) the team and second management level; (5) margins; (6) independence from the founder.
▶How big is the Swiss advertising and agency sector?
BFS counted 5,114 advertising agencies and sellers of advertising space with 20,800 employees in 2024 (STATENT, NOGA 73.11 and 73.12). The Swiss advertising market itself had net revenue of CHF 4,089 million in 2025 (Stiftung Werbestatistik Schweiz); no official figure for agency revenue is published.
▶Who are the main Swiss advertising agencies and media marketers?
Leading players include APG|SGA (out-of-home, holding in Geneva), Goldbach in Küsnacht, and the agencies Webrepublic, Publicis Communications Schweiz, Jung von Matt, Wirz Group and Dept in Zurich and ads&figures in Bern.
▶What are the key trends in Swiss digital marketing?
Five trends: (1) more, smaller agencies; (2) a shrinking advertising market; (3) global platforms taking the online growth; (4) restructuring at the media marketers; (5) new owners such as NZZ at APG|SGA.
▶What are the main risks when buying a Swiss marketing agency?
The main risks are: (1) dependence on one or two clients; (2) loss of key people; (3) budgets moving to global platforms or in-house; (4) AI lowering prices for creative work; (5) a weak advertising market. Due diligence should check client concentration and contract terms, retention, staff turnover and the share of recurring revenue.
▶Is the Swiss advertising market growing?
No. Net advertising revenue fell 1.3% to CHF 4,089 million in 2025 after a fall in 2024. Online advertising sold by Swiss publishers grew 0.9%, but most online growth goes to Google, YouTube and social media, estimated at CHF 2.08 to 2.55 billion in Switzerland.
▶Where are Swiss advertising agencies located?
Using BFS figures for 2024: Zurich has the most businesses (1,349, with 7,228 employees), followed by Western Switzerland (1,023; 3,045), Eastern Switzerland (691; 2,321), Central Switzerland (644; 3,426), Northwestern Switzerland (563; 2,143), Bern and Solothurn (533; 1,934) and Ticino (290; 696).