European digital adspend soars | WARC | The Feed

European digital adspend soars

The European digital advertising market grew 30.5% in 2021 to €92 billion, according to the latest figures from IAB Europe*, the European-level association for the digital marketing and advertising ecosystem.

Why it matters

This “exponential” growth shows that the digital advertising market has truly bounced back from the challenges and impact of COVID-19, says IAB Europe (although rising inflation – especially in Eastern Europe and Turkey – where inflation hit 19.6% in 2021 – means some data needs to be interpreted with caution).

Key statistics

• All markets experienced double-digit year-on-year growth; Turkey was the most dynamic market posting an exceptional growth of 99.7% (with the caveat noted above). 
• The top three markets – UK, Germany and France – accounted for over half of all European digital ad spend.
• Display grew by 34.5% to €45.6 billion, with social media accounting for half of that total.
• Search saw a 29.9% increase to €39.5 billion. 
• Video grew by 46.2% to €18.5 billion, audio is growing fast from a low base, up 50.2% in 2021. 

*The AdEx Benchmark 2021 study covered 28 markets

Sourced from IAB Europe [Image: Getty images]