Digital Video Advertising - Nordics

Ad spending in the Digital Video Advertising market in Nordics is forecasted to reach US$1.55bn in 2024.
The market is expected to experience an annual growth rate (CAGR 2024-2030) of 5.19%, leading to a projected market volume of US$2.10bn by 2030.
With a projected market volume of US$85.39bn in 2024, the majority of revenue will be generated the United States.
Within the Digital Video Advertising market, 81% of total ad spending will come from mobile in 2030.
The average ad spending per internet user in the Digital Video Advertising market is estimated to be US$60.30 in 2024.
Connected TV ad spending in the Digital Video Advertising market is projected to reach US$268.20m in 2024 and is expected to grow annually at a rate of 5.27%, resulting in a projected market volume of US$365.10m by 2030.
Ad spending on short-form videos in the Digital Video Advertising market is forecasted to reach US$579.60m in 2024, with an anticipated annual growth rate (CAGR 2024-2030) of 8.91%, leading to a projected market volume of US$967.20m by 2030.
In the Nordics, Digital Video Advertising is experiencing a surge in programmatic buying, driving targeted and data-driven ad campaigns across the region.

Definition:
Digital Video Advertising includes all ad formats within webpage-based videos, app-based video players, social media, or streaming apps on computer screens, smartphones, tablets, and other internet-connected devices. Videos that seamlessly match the form and function of the environment (e.g., news websites, video platforms) in which they appear (so-called native advertising) are also included in Digital Video Advertising.

Additional information:
Digital Video Advertising comprises advertising spending, connected-TV advertising spending, users, average revenue per user, and user demographic. The market only displays B2B spending. Figures are based on Digital Video Advertising spending and exclude agency commissions, rebates, production costs, and taxes. Key players in Digital Video Advertising include Comcast Corp., The Walt Disney Company, YouTube, TikTok, and Facebook. For more information on the data displayed, use the info button right next to the boxes.

All ad formats within webpage-based videos, app-based video players, social media networks, or social media apps
Pre-roll, mid-roll, and post-roll video ads
Text- or image-based overlays that appear in video players
Native advertising
Connected TV advertising
Ad spending on short-form videos

Traditional TV advertising video formats broadcasted over traditional transmission channels (e.g., DTT, cable, satellite)
Addressable TV ads, targeted advertising to individual households via set-top boxes; including cable and satellite using addressable technologies such as Dynamic Ad Insertion (DAI)

The Digital Video Advertising market in Nordics has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, and local special circumstances. Customer preferences in the Nordics have been shifting towards digital video advertising due to its effectiveness in reaching and engaging target audiences. Consumers in the region are increasingly consuming video content online, whether it be through streaming platforms, social media, or websites. This has created a demand for digital video advertising as companies seek to capture the attention of these consumers. Additionally, the Nordics have a high smartphone penetration rate, further fueling the demand for mobile video advertising. Trends in the market indicate that programmatic advertising is gaining traction in the Nordics. Programmatic advertising allows for automated buying and selling of digital ad space, making it more efficient and cost-effective for advertisers. This trend is driven by advancements in technology and the availability of data-driven targeting options. Advertisers in the Nordics are increasingly adopting programmatic advertising to optimize their campaigns and improve ROI. Another trend in the market is the rise of native video advertising. Native video ads seamlessly blend into the user experience, providing a non-disruptive and engaging advertising format. This trend is driven by the desire to create more personalized and relevant ad experiences for consumers. Advertisers in the Nordics are leveraging native video advertising to increase brand awareness and drive conversions. Local special circumstances in the Nordics, such as the high internet penetration rate and strong digital infrastructure, have contributed to the growth of the digital video advertising market. The Nordics are known for their tech-savvy population, making them an attractive market for digital advertisers. Additionally, the region has a strong culture of creativity and innovation, which has led to the development of unique and impactful video ad campaigns. Underlying macroeconomic factors, such as the stable economic growth and high standard of living in the Nordics, have also played a role in the development of the digital video advertising market. Companies in the region have the financial resources to invest in digital advertising, driving market growth. Furthermore, the Nordics have a well-educated workforce and a strong focus on digital literacy, which has created a favorable environment for the digital video advertising industry to thrive. In conclusion, the Digital Video Advertising market in Nordics is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers in the region increasingly consume video content online, advertisers are adapting their strategies to reach and engage these audiences. The adoption of programmatic advertising and native video advertising is on the rise, driven by advancements in technology and the desire for personalized ad experiences. The Nordics' high internet penetration rate, strong digital infrastructure, and tech-savvy population have created a favorable environment for the digital video advertising market to flourish.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers video ad formats (web-based, app-based, social media, and connected devices).

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

From six-second bumper ads to multi-minute compilations, video marketing is constantly evolving, and audiences everywhere never fail to tune in. As the number of digital video viewers keeps rising every year, marketers embrace video as a promotional tool more vividly than ever. In 2023, digital video ad spending amounted to almost 176.63 billion dollars. Unsurprisingly, the United States remains the country with the highest spending on digital video ads, followed by China and the United Kingdom. Connected TV (CTV) and social video are among the most popular content marketing tactics worldwide, and the post-pandemic era has only consolidated companies’ dependency on these tools.