IAB Report: Europe Up 4 Billion Euros in 2007; Closing In On U.S.

The Interactive Advertising Bureau (IAB) is out today with a new report they created with PricewaterhouseCoopers (PwC) regarding online advertising spen for 2007 in Europe. The full report is available now. The net takeaway from the report is that in 2007, the European online advertising market was worth EUR11.2 billion, up four billion euros from EUR7.2 billion in 2006.

From the report, "Two thirds (65% or EUR7.3 billion) of European online ad budgets were spent in the big three markets of the UK, Germany and France. However some of the smaller markets in our report enjoyed very high growth rates - Greece at 91%, Spain at 55% and Slovenia at 49%."

It’s important to note that this report is for calendar year 2007 and the report for 2008 might show a very different result.

As you can see from the chart below, Europe as a whole is starting to catch the U.S. in total online spend.