IAB Europe AdEx Benchmark 2024 Report

Now in its nineteenth year, the AdEx Benchmark Report remains the definitive source for advertising expenditure insights across Europe. This year’s edition includes data from 30 national markets - welcoming Portugal for the first time - to deliver a fully harmonised digital advertising investment total for the region. Notably, the Report also offers, for the first time, a comprehensive overview of Retail Media as a category.

Key Highlights from the latest AdEx Benchmark Report include:

• Double-digit growth: European digital advertising market grew by 16%, reaching €118.9 billion – the highest annual revenue recorded in constant currency terms.
• Strongest growth since 2011, excluding the exceptional spike in 2021 post-COVID.
• Social Media: Grew by 23.9%, ranking among the top-performing channels.
• Video: Led Display advertising with 24.5% growth, driven by Connected TV formats (SVOD and BVOD); now accounts for over 50% of Display advertising in 9 markets.
• Retail Media: Recorded 22.2% growth, highlighting its increasing strategic importance.
• Programmatic: Rebounded with 18.4% growth.
• Digital Audio: Saw more modest growth at 18.3%, with challenges in scale and measurement.
• Digital dominates: 67.2% of all advertising spend in Europe is now digital.
• 21 out of 30 markets achieved double-digit growth in 2024.
• UK: Top growth market, nearing €42 billion in revenue, bolstered by its mature digital ecosystem.
• Emerging markets: Ukraine grew by 27.2% and Serbia grew by 24.8%, indicating rising advertiser confidence in smaller markets.

Read the press release here.

Download the full report below.