France and Spain saw robust growth in online ad spending during the first half of 2010, according to PricewaterhouseCoopers (PwC) and national Internet Advertising Bureau (IAB) organizations in the two countries.
In Spain, online spending reached an estimated €377.4 million ($525.7 million) in H1 2010. This was 20.3% higher than online ad spending in the first six months of 2009, and represented 13% of ad spending in all media. The IAB/PwC figure is almost exactly half the full-year estimate for 2010 produced by eMarketer, suggesting that our view of the market’s potential this year will be borne out.
In France, digital channels are expected to claim 16% of all ad spending in 2010, but that will rise to 21% of total spending in 2014, IAB and PwC predicted. Online ad spending in the first half of 2010 passed €1 billion ($1.4 billion), according to several sources.
Display is enjoying a new lease of life in both France and Spain, according to IAB and PwC.
In Spain, for example, search commanded 52% of online spending in H1 2010, and total outlay on search rose 13.8% compared with H1 2009. But display was found to be growing more rapidly than search, for the first time ever, with spending up more than 28% year-on-year.
Cash-strapped Spanish advertisers typically opted for less expensive display options in early 2010. Embedded formats, including banners and skyscrapers, accounted for 51.3% of online display spending, while just 5.6% of expenditure went to expanding and floating formats.
Video advertising is crucial to rising display budgets throughout Europe, though spending levels and growth rates vary from one country to another. IAB and PwC forecast that rich media and video ads will double their share of French online revenues by 2014. In Spain, spending on video ads was up 100% in a single year. But the video ad market is inevitably much smaller than its counterpart in France, and constituted just 2.7% of online display ad spending in Spain during H1 2010.
New formats such as video encourage new measures of viewer engagement; these, in turn, are prompting marketers to rethink ad payment models. This revision is long overdue, according to PwC analysts. They found that 62.3% of display campaigns in Spain were booked on a CPM basis, while 15.3% used cost-per-acquisition or cost-per-action. Just under 13% ran for a fixed period of time and 7.3% were paid for cost-per-click. These approaches no longer reflect the reality of consumer interaction with digital media, said PwC.
For more information on recent trends in European online ad spending, read the eMarketer report, Western Europe Online Ad Spending: Leading the Recovery (October 2010).
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