AdEx Benchmark Report 2023

We’re excited to announce that IAB Europe’s widely anticipated AdEx Benchmark Report 2023 is here, revealing the exceptional strength and growth of digital advertising in Europe. 

The release of our latest AdEx Benchmark Report for 2023, highlights a robust 11.1% growth in the digital advertising market across Europe, reaching an all-time high of €96.9 billion. Despite economic and geopolitical challenges, digital advertising in Europe has demonstrated remarkable resilience and growth and we thank you again for your contributions in compiling this report.

Key findings 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%.

For the first time, our report also includes quarterly data, offering deeper insights into the market dynamics that have shaped digital advertising over the past three years.