BRUSSELS: Online advertising in across Europe grew almost 10% in the first half of 2015 and is expected to grow even faster in the second half, according to new data from IAB Europe.
The AdEx Benchmark H1 2015 report, produced in collaboration with IHS Technology, revealed that online advertising was up 9.7% on a like-for-like basis in the first half to reach a total of €16bn. The full-year total is predicted to be almost €34bn.
"We expect H2 2015 to perform better than H1 and online to lift an otherwise flat European advertising market," said Daniel Knapp, Senior Director of Advertising Research at IHS Technology and author of the research.
The IAB also argued that a continent-wide perspective is becoming necessary, given the increasingly pan-European nature of digital advertising investments and the role of Europe's digital economy in a global context.
Within the region, Central and Eastern European markets were growing fastest, at 12.9%, but more mature markets in Western Europe also reported a healthy increase of 9.3%.
In terms of format, display advertising accounts for €5.6bn of all online advertising spend, or just over one third (35%).
Its growth rate of 13.0% was the highest of any format and this, the IAB suggested, was indicative of improvements in targeting and data strategies for brand advertising.
Mobile display advertising continues to gain in importance, with spending up 57.5% to pass €1bn in the first half of the year and take a 24% share of all display advertising. Video also passed the €1bn mark as publishers developed their video monetisation strategies.
"Formats which enable marketers to deliver digital brand campaigns at scale are the high-growth areas," observed Townsend Feehan, CEO of IAB Europe.
Findings from Warc's latest Global Ad Trends report, which draws from the IAB data, show internet adspend rose seven-fold over the last decade to take a 28.9% share of all European adspend in 2014. Of this, mobile accounted for approximately 12.6%.
Data sourced from IAB Europe; additional content by Warc staff