This will track another important metric: “CTV ad view growth in Europe from H1 2022 to H1 2023 was up 28% YoY; mobile ad view growth over the same period was up 13%,” said Virginie Dremeaux, vice president of marketing and communications, international, at FreeWheel. Allied with higher CPMs for CTV ads, the rate of ad spending growth will likely outpace mobile for some time.
In 2024, a perfect storm of technology, business, and consumer behavior trends will conspire to intensify the challenges of protecting brands on digital media.
As a proportion of digital spending, Germany leads. The relative underdevelopment of Germany’s digital advertising market has been ripe for retail media dominance. This year, retail media advertising will account for more than a fifth of all digital ad spend in Germany, and that proportion will pass one-quarter by 2026.
France will see stronger growth in digital ad spending than both Germany and the UK this year. Most industries aren’t contributing to that growth, though, with only travel and retail seeing any significant investments.
The threat of recession is holding back digital ad spending in Germany, particularly in influential industries like automotive. If the worst case can be avoided, though, 2024 offers promising signs for growth.