According to IAB Europe, the European digital advertising market grew by 11.1 % in 2023, reaching 96.9 billion euros. This marks a significant increase compared to other international markets. In Serbia, AdEx recorded a 27.6 % growth in digital advertising investments, while Croatia saw an increase of 17.2 %. The share of display advertising in the European digital advertising market continues to rise, with an annual growth of nearly 13 %. Serbia experienced an annual growth exceeding 26.8 %, while Croatia reached 20.3 %.
Digital advertising accounts for 63 % of total media advertising expenditure in Europe, reaching a new record market value of 96.9 billion euros last year, representing an 11.1 % increase compared to the previous year. Serbia recorded a growth of 27.6 %, reaching 103 million euros, while Croatia experienced a growth of 17.2 %, totaling 154 million euros.
Display advertising makes up 60 % of the market and is largely driven by programmatic buying. Last year, display advertising in Europe grew by 12.7 %, with Serbia and Croatia recording growth rates of 26.8 % and 20.3 %, respectively. The market value of display advertising in Croatia reached 113 million euros, and in Serbia, 70 million euros. Currently, 80 % of all display ads in Serbia are bought programmatically, compared to over 60 % in Croatia.
“Research on digital advertising trends, such as AdEx, increasingly confirms that the Adriatic region allocates a larger share of investments to digital advertising. According to the AdEx study, over 63 % of all advertising investments in the European market now go to digital advertising. The majority of these investments are allocated to display advertising, highlighting advertisers’ confidence in its effectiveness and the importance of placing advertising content in editorial and online media,” commented Leon Brenčič, Client Service Director at iPROM, on AdEx investment trends.
