IAB Europe releases 2008
Source: national Interactive Advertising Bureaux (IAB)

Annual study finds that growth slowed significantly in mature markets to under 20% as search remains the most popular online advertising format

Brussels 10th June 2009: 
In 2008 the European online advertising market was worth €12.9 billion with a like-for-like growth rate compared to 2007 of 20%. In the US, online advertising grew 10.6% in 2008 and was worth €16.6 billion ($23.4 billion). However whilst the pan-European figure is one of growth, it is no secret that 2008 was one of the worst years for advertising in any medium. The online sector was not immune and experienced a challenging year, particularly in the 10 most mature markets. The key difference is it did still manage growth – albeit at a lower rate. 

Six of the top 10 European markets grew less than 20%
The top 10 markets in Europe account for 93% of the total value of the market. Many of these countries saw year-on-year growth rates under 20%. The Netherlands, Europe’s early adopter of online advertising grew only 9% in 2008. Other mature online markets saw similar trends, with growth slowing in France at 18.5%; the UK, Germany and Sweden at 19% and Italy at 20%. Just beating the 20% barrier, Belgium grew 21% and Denmark and Norway hit a 22% growth rate. Spain by comparison saw relatively strong growth at 26%.
 
Smaller markets enjoying strongest growth
The markets outside of the top 10 are currently enjoying the strongest growth.  Whilst this may not be hugely surprising as they enter a growth stage whilst simultaneously the top markets mature, it does present advertisers and players in the digital arena with business opportunities in these countries. Poland has experienced a 60% growth rate to bring the market to a value of €253m and Slovenia a 77% growth rate – the market is now valued at €19.6m.
 
Alain Heureux, President and CEO of IAB Europe says “Overall the picture in Europe is one of growth, but what is clear from these figures – and what will surprise no one - is that 2008 was a tough year for online advertising. The focus on search and classifieds underlines just how important making online ad spend accountable is for our industry to develop and grow, and it is why IAB Europe has been supporting research into its measurement.