Digital advertising has reinforced its status as the place to be after the latest AdEx Benchmark index confirmed growth of 11.5% to €22.2bn for the first half of the year – up from €20.2bn over the same period a year earlier.
The Benchmark study was compiled by IAB Europe, in collaboration with IHS Markit and showed that virtually all of this growth was attributed to mobile - where display advertising surged an impressive 45.9% even as desktop display retreated by 1.4%. Overall total mobile growth hit a blistering 41.4% to take the sectors total value to €7bn, far in advance of its closest competitor, search, which grew by a relatively sedate 12.8%.
Online video was another strong suit, multiplying three-and-a-half times faster than non-video display to reach €1.7bn in the first half, accounting for one fifth of the total display market.
Daniel Knapp, executive director at IHS Markit said: “A stable macro-economic environment in the Eurozone has fuelled advertising demand, and our data shows that political uncertainty in other countries has not impacted growth to date. The European digital advertising market has been growing in the narrow window of 13.1% and 11.5% every year since 2012, and the most recent data is again in that range.
“Heightened investment in digital is partly a redistribution of spend from other media, a migration from below-the-line budgets, and new advertisers. But our data also signals that the structure of the digital advertising market is changing as we enter the post-desktop age.”
Over the course of the study period display advertising grew by 13.1%, with particularly strong growth in central and eastern Europe, to reach a total spend of €8bn in the first half.
Last year total online advertising spend surpassed TV in Europe for the first time.