According to IAB Europe, the European digital advertising market grew by 11.1 percent in 2023, reaching €96.9 billion. This represents a significant increase compared to other international markets. In Serbia, AdEx recorded a 27.6 percent growth in digital advertising investments, while Croatia saw a 17.2 percent increase. The share of display advertising in the European digital advertising market continues to grow, with nearly a 13 percent annual increase. In Serbia, annual growth exceeded 26.8 percent, while in Croatia it reached 20.3 percent.

Digital commands 63 percent of total media ad spend

In Europe, digital advertising hit a new record last year with a total market value of €96.9 billion, representing an 11.1 percent growth compared to the previous year. Serbia saw a 27.6 percent increase, reaching €103 million, while Croatia experienced a 17.2 percent rise, totaling €154 million.

Display advertising accounts for 60 percent of the market and is primarily driven by programmatic purchasing

Last year, display advertising in Europe grew by 12.7 percent, while Serbia and Croatia saw a 26.8 percent and 20.3 percent increase respectively. The market value of display advertising in Croatia reached €113 million and €70 million in Serbia. Currently, 80 percent of all display ads in Serbia are purchased programmatically, compared to over 60 percent in Croatia.

“Research on digital advertising trends, such as AdEx, increasingly confirms that the Adriatic region is dedicating a larger share of investments in advertising to digital advertising. According to the AdEx study, more than 63 percent of all advertising investments in the European market now go into digital advertising. The largest share of these investments is allocated to display advertising, highlighting advertisers’ confidence in its effectiveness and the importance of placing advertising content in editorial and online media,” comments Leon Brenčič, Client Service Director at iPROM, on AdEx investment trends.