The European digital advertising market has reached a significant milestone. According to the 2024 AdEx Benchmark Report, released by IAB Europe at Interact 2025, digital ad spend across Europe exceeded €118.9 billion in 2024, the first time the market has crossed the €100 billion threshold in constant currency.
This represents a 16% year-on-year increase, underscoring the sustained importance of digital channels in media strategies across the region. It’s also one of the strongest growth rates recorded in over a decade. Digital now claims 67.2% of all ad spend in Europe. That’s not a trend, it’s the new foundation.
Now in its nineteenth edition, the AdEx Benchmark Report continues to be the definitive resource for understanding pan-European digital ad investment. This year, the report expanded to cover 30 markets, with Portugal included for the first time, and introduced Retail Media as a distinct category.
But this isn’t just a story about big numbers. It’s about what those numbers mean for advertisers, agencies, platforms, and publishers navigating the most vibrant digital environment we’ve ever seen.
What’s Driving the Digital Surge?
1. Video Consolidates Its Leadership
Video continues to rewrite the rules of engagement, with Connected TV (CTV), SVOD, and BVOD powering a 24.5% increase. In nine markets, video now accounts for more than 50% of display advertising, highlighting its central role in branding and engagement strategies.
2. Retail Media Goes Mainstream
For the first time, Retail Media has been included as a standalone category in the AdEx report, reflecting its growing relevance across Europe. It isn’t just the “new kid on the block” anymore, it’s becoming a core line item in the digital mix. With 22.2% growth, this format is proving that commerce and content are not just connected, they’re converging. Advertisers are investing where they can close the loop from impression to conversion in a single scroll.
3. Social Media Maintains Strong Momentum
While some might say social is saturated, the data disagrees. The channel clocked in a 23.9% rise, driven by creator economies, shoppable content, and more immersive experiences. Social is no longer just a branding play, it’s performance, culture, and commerce rolled into one. This channel continues to play a major role in both upper-funnel awareness and lower-funnel conversion.
4. Programmatic Picks Up Pace
After a more cautious phase, programmatic returned to growth in 2024, increasing by 18.4%. The growth suggests a renewed focus on data-driven buying, measurement improvements, and advertiser confidence in automated trading.
5. Audio Continues Steady Development
Digital audio grew at a more modest but still healthy rate of 18.3%, driven by podcasting and streaming formats. While adoption continues to increase, scale and measurement remain challenges in some markets.
Market-Level Insights – A Pan-European Powerhouse
Across the board, 21 out of 30 markets saw double-digit growth, and for the first time ever, Portugal joined the AdEx map, bringing fresh insights from the Iberian Peninsula.
Looking Ahead: From Peak to Plateau?
The strong performance of Europe’s digital advertising market in 2024 provides a solid foundation, but early indicators suggest that 2025 may bring renewed complexity. IAB Europe’s Chief Economist, Daniel Knapp, describes the expected environment as a potential “restart of the rollercoaster,” with several factors likely to shape the industry in the months ahead. Rising tariffs, regulatory uncertainty, and global election cycles could slow decision-making. But one thing’s certain - brands will double down on channels that deliver measurable, proven outcomes.
Explore the Full Report - The 2024 AdEx Benchmark Report provides in-depth data on digital advertising trends across Europe’s national markets, offering valuable benchmarks and investment breakdowns by format and channel.
