The report, in partnership with PricewaterhouseCoopers, revealed search spend had increased by 26% compared with 2007. Classified spend was up by 17.4%, display up 15.1% and email up 12.2%.
Spend for the top ten countries accounted for 93% of the total value of the market, although six of these – including the UK – experienced growth of less than 20%.
Smaller, emerging markets such as Poland experienced 60% growth to bring its value to €253m (£216m), while Slovenia grew by 77% to €19.6m (£16.8m).
Alain Heureux, president and CEO of IAB Europe, said, “Overall the picture in Europe is one of growth, but what’s clear from these figures, and what will surprise no one, is that 2008 was a tough year for online advertising.
“The focus on search and classifieds underlines just how important making online ad spend accountable is for our industry to develop and grow, and it’s why IAB Europe has been supporting research into its measurement,” he added.
This story first appeared on newmediaage.co.uk