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IAB Europe AdEx Benchmark Report 2023

Jun 12,2024
Lauren Wakefield
Ad spendKnowledgeHub

Now in its eighteenth year, the AdEx Benchmark Report is the definitive guide to advertising expenditure in Europe, with data collected across 29 national markets to provide a total harmonised figure for Europe. For the first time this year, the report includes additional quarterly data, offering a deeper insight into the complex dynamics that contributed to digital advertising’s growth over the last three years. 

Key Highlights from the latest AdEx Benchmark Report include:

  • Exponential Market Growth: The European digital ad market grew by 11.1% in 2023, outpacing the growth rate of other international markets, including the U.S., which saw a 7.3% increase.
  • Top Performing Markets: Major European markets, including the UK, Germany, France, Spain, and Italy, accounted for 69% of the total digital ad spend. Impressively, 13 European markets experienced double-digit growth, with Turkey leading at 50%, followed by Serbia at 27.6%, and Ukraine at 25.2%.
  • Fastest-Growing Formats: Social advertising rebounded with an 18.2% growth rate, while video advertising surged by 20.9%. Audio formats also continued their impressive climb, increasing by 23.1%, with podcasts driving a 32.5% rise in digital audio spend. Connected TV (CTV) outperformed non-social video, growing by 23.5%.

Read the press release here.

Download the 2023 AdEx Full Report here.

Download the 2023 AdEx Infographic below.

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IAB Europe is the European-level association for the digital marketing and advertising ecosystem

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