PwC: European online ad spend up 40 per cent

05/06/2008

A PricewaterhouseCoopers (PwC) study into data released by Interactive Advertising Bureau Europe (IABEurope) has revealed online advertising spending in Europe has continued to grow in the last year.

Growth in 2007 averaged 40 per cent in the 16 European countries, compared to a more modest 26 per cent growth in the US market.

The study shows European advertisers spent more than £8.8 billion pounds online in 2007, compared to less than £5.7 billion in the previous year.

Europe's three largest markets, the UK, France and Germany, were the biggest recipients with around 66 per cent of all spending in Europe.

The UK, France and Germany still account for the bulk of spending and PwC experts say this is down to more advertisers moving into the online market.

"The development of the more mature markets in Europe is a sign that they are seeing increasing amounts of investment from a wider range of advertisers than ever before," said a statement from PwC senior manager Nicki Lynas.

The results of the study seem to suggest that last week's predictions by Eloqua, which pointed to massive growth in online ad revenues by 2012, may be on the mark.