IAB Europe, the leading European-level industry association for the digital advertising and marketing ecosystem, has released its full 2022 AdEx Benchmark Report following the release of the study highlights in May.

Now in its seventeenth year, the report is the definitive guide to advertising expenditure in Europe covering 29 markets. It details the formats and channels that contributed to digital advertising’s annual growth of 9.8% in 2022, culminating in a total market value of €86bn (~£73.8bn).

Commenting on the positive market growth in 2022, Townsend Feehan, CEO at IAB Europe said, “Despite facing unprecedented macroeconomic and geopolitical challenges, such as the war in Ukraine and rising inflation, the digital advertising market demonstrated exceptional resilience, with an increase of €7.7bn (~£6.6bn) from 2021.” 

Market Coverage Expansion

In 2022, the geographical coverage of the AdEx Benchmark study underwent key changes, with Belarus and Russia being excluded and Estonia, Latvia, and Lithuania added as new markets. This expansion allows for a more comprehensive overview, encompassing a wider range of markets in the report. 

Video and Audio Record Strongest Growth 

The findings highlight audio as the fastest-growing format, experiencing a remarkable increase of 22.1% to reach €0.7bn (~£600m). Video also witnessed substantial growth, with a 13.6% increase, valuing the format's investment at €18.3bn (~£15.7bn).

Programmatic Commands Over 57% of Display  

Programmatic, excluding social, continues to account for more than half of display ad spend, with video accounting for 52.8% of the share of programmatic spend. However, huge differences in the maturity of programmatic across markets mean there is significant headroom for growth. Key markets, including France, Germany Italy, and Sweden, remain low in programmatic share in comparison to the UK.  

Dr. Daniel Knapp, chief economist at IAB Europe, who compiled and presented the study commented, “Growth of digital advertising in Europe slowed to +9.8% in 2022. This can be attributed, in part, to a natural correction following a robust recovery in 2021 after the pandemic, which witnessed the most substantial market expansion in more than ten years (+33.8%). Additionally, the presence of macro-economic fragility and the ramifications of the war in Ukraine acted as further obstacles. Despite these challenges, the growth rate still surpasses expectations, particularly considering that digital advertising has now become a well-established media category, accounting for over 60% of total media ad expenditure, compared to less than 20% in 2009, the last year with similar growth patterns.”