The continuous weak economic conditions across Europe, does not stop the continent’s online advertising market grew 14.5% year-on-year to a market value of €20.9 billion in 2011. IAB Europe’s annual AdEx Benchmark survey which was released earlier at IAB Europe’s Interact conference in Barcelona, it shows that 1 in 5 advertising Euros in Europe is now spent online.
Individual market growth ranged from 55.5% in Russia and 46% in Serbia, to 5.5% in Norway and 4.6% in Romania. Central and Eastern Europe (CEE) markets increased their share of the total from 10.1% in 2010 to 11.8% last year. Russia is now the sixth biggest market with a value of €1.12 billion, buoyed particularly by a surging search market. Together the top five markets (UK, Germany, France, Italy, and Netherlands) account for almost 67.9% of the total online advertising market, down slightly from 69.2% in 2011.