Online Ads in Europe Nip at U.S. Heels
ADOTAS – Online advertising revenue in Europe is growing like a weed – it was up 40% to $17 billion last year, according to data released by the Interactive Advertising Bureau.
The surge indicates that the European interactive advertising market is getting closer to closing the gap between it and the U.S. market, which grew 26% to roughly $22.5 billion in the same period.
Two-thirds of European online budgets were spent in the U.K., German and France. But smaller markets saw some of the highest rates of growth (Greece at 91%, Spain at 55% and Slovenia at 49%).
“We are well on the way to achieving the ‘10 before 10’ — that is 10 European countries where online advertising accounts for at least 10% of overall ad spend by the year 2010,” Alain Heureux, president of IAB Europe, said in the report. “At the end of 2007 Denmark, Germany, Netherlands, Norway, Poland Sweden and the U.K. had all reached this milestone.”
The IAB reports that the following sectors spent the most on online ads: entertainment and leisure, telecoms, finance and insurance. The report noted that the entertainment and leisure sector led the pack and allocated a significant chunk of their interactive budget on social media formats.
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