The online marketing industry in Europe grew by an average of 20 per cent last year, new research reveals.
A new report published by the Interactive Advertising Bureau (IAB) Europe and PricewatershouseCoopers (PwC) found that the European online advertising industry grew to 12.9 billion (£11 billion) last year.
The 2008 AdEx report showed that Italy experienced a growth rate of 20 per cent, followed by the UK, Sweden and Germany, with 19 per cent.
Online advertising was even more robust in Denmark and Spain, where it grew by 22 per cent and 26 per cent respectively.
However, marketers may be focusing their attention on direct mail, as online marketing is set to experience a tough year ahead.
Eva Berg-Winters, senior manager at PwC, said: “2009 is set to be a difficult year for online advertising. Decline is likely in a number of mature markets and, where there is still growth, we expect it to be much lower than previously.”
TNS recently reported that expenditure advertising expenditure was down by 14.2 per cent during the first quarter of 2009.