Digital advertising continues to grow with the latest AdEx Benchmark report showing an increase of 11.4% to €22.2 billion for the first half of 2017, up from €20.2 billion the year over.
According to the research by IAB Europe and IHS Markit, the majority of this growth can be attributed to mobile. Mobile display ad spending jumped 45.9% whilst desktop display dropped 1.4%. Total mobile growth stood at 41.4% with a €7 billion value.
Meanwhile, search increased 12.8%.
As predicted last year, online video also demonstrated strong growth. The format multiplied 3.5x faster than non-video display formats to a whopping €1.7 billion during H1 2017. It now accounts for a fifth of the total display market.
Daniel Knapp, executive director at IHS Markit explained:
“A stable macro-economic environment in the Eurozone has fueled 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.”
According to Knapp, the increase in investments is due to a redistribution of spending from other media. However, the data also highlights that the digital advertising market structure has changed.