The Future of Print

Online Advertising In Europe: 2008 Was Tough, 2009 Will Be Worse

Posted in Doom by futureofprint on June 11, 2009

In 2008 the total European online advertising market, or at least the 19 markets analyzed by IAB Europe and PwC, was worth €12.9 billion approx. $18 billion with a like-for-like growth rate compared to 2007 of 20%. For comparison, online advertising grew 10.6% in the United States in 2008 outpacing TV and was worth €16.6 billion $23.4 billion. However, the 20% growth figure paints a better-looking picture than the harsh reality, which is that it is far below previously stated expectations, of course caused by the crumbling of the global economy and the huge strain it has put on digital advertising spending worldwide.

If you look at the top 10 markets in Europe, year-on-year growth rates were under 20% more often than not. Considering the fact that these markets account for about 93% of the total value of the market, the following chart doesn’t accurately reflect the slowed growth because it over-accentuates the massive growth in Slovenia, Poland and Austria.

Broken down by formats, search remains the leading format in Europe with the strongest year-on-year growth rate 26%, accounting for 43% of online ad expenditure in the countries measured and a value of €5.6 billion. After search come classifieds, with growth rates of 17.4% bringing it to 26% share of total ad spend and a market value of €3.8 billion.

Via TechCrunch

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