The Internet Advertising Bureau (IAB), of which Broadplace is the only Google Premier Partner to be a member, recently held its 10th Annual Interact Conference. There it was announced that online advertising surpassed the European TV Market in 2015 – growing 13.1% to €36.2bn, beating the European TV Market which is valued as €33.3bn.
The results from the research by AdEx Benchmark revealed that each market recorded positive growth, with 20 markets in fact returning double digit growth in 2015 – the second year running. Three markets had 30%+ growth, nine recorded 20%+ and a further eight 10%+ growth.
The European online advertising market has enjoyed a €30bn net addition over the last 10 years. It is unsurprising, therefore, to see it finally overtake TV as the top advertising medium in Europe. Here at Broadplace, we are seeing this translated into successful campaigns for our clients – a far more manageable, measurable and accessible form of advertising than more traditional formats such as print or TV.
Display exceeded all other forms of advertising in terms of pace of growth – increasing on 2014 at 17.4% in 2015. The total Display ad market was valued at €13.9bn for 2015.
Growth in Search AdSpend was 12.6% up on 2014 – a market value of €16.9bn, the largest ad format in revenue. It is back on track after a slight decrease in growth in 2014.
In Europe, as with many other regions, Mobile and Video are the key growth drivers of the ad market. Nearly 50% of all online advertising is mobile-generated in the UK and Ireland. Mobile now makes up 25.4% of the Display market, €3.5bn and a growth rate of 60.5% compared to 2014.
Daniel Knapp, Director of Advertising Research at IHS Technology and author of the research said, “Over the past ten years, online advertising in Europe has morphed from an afterthought in media buying into an indispensable set of channels for reaching and engaging consumers that now trumps TV in terms of overall marketer spend. Online advertising today stands for a diversified infrastructure that caters to multiple marketing objectives from direct response to branding, as the sustained growth of both paid-for-search and video in our study demonstrates.”
Townsend Feehan, CEO of IAB Europe, commented “These results confirm the lead position for digital advertising in the European media landscape echoing today’s digital first consumer environment. Given the ever-increasing contribution of digital advertising to the economy and its role in the delivery of digital content and services we must continue to foster European innovation and empower our businesses to compete across the globe.”