Contributed by: Editor on Sunday, June 14 2009 @ 12:34 pm
Last modified on
TechCrunch has an article about how online advertising faired in Europe in 2008 and has a few predictions for 2009. With the recession hitting last year, it significantly slowed the growth of digital advertising. With the downturn of the economy still present, 2009 will be worse and a decline is expected. In 2008 the European online advertising market was worth €12.9 billion or $18 billion in US dollars (in 19 markets) . This is a 20 percent increase over 2007 and while most businesses would love to see an increase in sales like this, the projection at the start of 2008 (before the world recession) was much higher. Search advertising is the leading advertising format that accounts for 43 percent of spending or €5.6 billion. After search is classifieds at 26 percent or €3.8 billion.
For comparison, in the United States for 2008, online advertising was worth $23.4 billion or €16.6 billion. This is an increase of 10.6 percent over the previous year. The Interactive Advertising Bureau, who are responsible for all these number, just reported a 5 percent decline in the United States for the first quarter of 2009, to $5.5 billion.
Read TechCrunch[*1] for the full post.