Market Insights Advertising & Media Advertising

TV & Video Advertising - Nordics

Nordics

Ad spending in the TV & Video Advertising market in the Nordics is forecasted to reach US$3.07bn in 2024.
The largest market within this industry is Traditional TV Advertising, with a market volume of US$1.54bn in 2024.
When compared globally, the United States is expected to lead in ad spending, reaching US$143.80bn in 2024.
The average ad spending per user in the Traditional TV Advertising market is projected to be US$69.37 in 2024.
By 2029, the number of TV Viewers in the Nordics is estimated to be 22.7m users.
In the Nordics, TV & Video Advertising market is seeing a shift towards programmatic buying, enhancing targeting capabilities for advertisers.

Key regions: United States, India, China, Japan, United Kingdom

Definition:
TV & Video Advertising includes advertising in the form of moving visual images instead of traditional broadcast television and all ad formats within digital video channels. Traditional TV Advertising includes non-digital formats and excludes all forms of digital TV advertising. Traditional TV Advertising also covers all ad spending on pay-TV operators and networks, free-to-air networks, and free-to-air spin-off digital channels from terrestrial network operators. In comparison, Digital Video Advertising includes all ad formats within webpage-based videos, app-based video players, social media, or streaming apps that appear on computer screens, smartphones, tablets, and other internet-connected devices.

Structure:

Traditional TV Advertising includes all ad spending on moving image formats broadcasted via traditional transmission channels such as terrestrial and digital terrestrial (DTTV, DTT, DTTB) TV, cable TV, satellite TV, and linear TV delivered via Internet Protocol television (IPTV).
Digital Video Advertising formats are displayed as instream and outstream video ads. Instream video ads include advertising that appears before, during, or after the streamed video (pre-roll, mid-roll, and post-roll video ads) and video overlays (text- or image-based overlays that appear while watching a video). Outstream video ads include video advertising that appears in non-video environments, e.g., in-feed on social media or text-based content (so-called native advertising).

Additional information:
The TV & Video Advertising market comprises advertising spending, users, average revenue per user, and user demographic. The market only displays B2B spending and users for the market. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Additional definitions of Traditional TV Advertising and Digital Video Advertising can be found on the respective pages. For more information on the data displayed, use the info button right next to the boxes.

Market

Region

Region comparison

Currency

Analyst Opinion

The TV & Video Advertising market in Nordics is experiencing significant growth and development. Customer preferences are shifting towards digital platforms, leading to an increase in digital advertising spending. Additionally, the rise of streaming services and the popularity of mobile devices are driving the demand for video advertising.

Customer preferences: In recent years, there has been a notable shift in customer preferences towards digital platforms in the Nordics. Consumers are increasingly using streaming services and online platforms to access their favorite TV shows and videos. This change in behavior has resulted in a decline in traditional TV viewership and an increase in digital advertising spending. Advertisers are recognizing the need to reach their target audience through digital channels, leading to a surge in investments in TV and video advertising on digital platforms.

Trends in the market: One of the key trends in the TV & Video Advertising market in the Nordics is the rise of streaming services. Platforms such as Netflix, Viaplay, and HBO Nordic have gained significant popularity among consumers, offering a wide range of TV shows and movies. Advertisers are capitalizing on this trend by investing in video advertising on these streaming platforms. This allows them to reach a highly engaged audience and deliver targeted messages. Another trend in the market is the increasing use of mobile devices for video consumption. The Nordics have one of the highest smartphone penetration rates in the world, and consumers are increasingly using their mobile devices to watch videos. This has created new opportunities for advertisers to reach their target audience through mobile video ads. Advertisers are adapting their strategies to create engaging and mobile-friendly video content that can capture the attention of consumers on the go.

Local special circumstances: The Nordics have a highly digitalized and connected population, which makes it an attractive market for TV & Video Advertising. The region has a high internet penetration rate, and consumers are early adopters of new technologies. This creates a favorable environment for digital advertising and encourages advertisers to invest in TV and video advertising on digital platforms. Furthermore, the Nordic countries have a strong tradition of creativity and innovation in the media industry. This has resulted in the production of high-quality TV shows and films, which attract a large audience both domestically and internationally. Advertisers can leverage the popularity of Nordic content to create engaging video ads that resonate with the target audience.

Underlying macroeconomic factors: The strong economy of the Nordics is also contributing to the growth of the TV & Video Advertising market. The region has a high disposable income and a well-developed consumer market. This provides advertisers with the opportunity to target a financially stable and affluent audience. Additionally, the Nordics have a high level of digital literacy and a strong infrastructure, which enables the seamless delivery of video ads to consumers. In conclusion, the TV & Video Advertising market in the Nordics is experiencing growth and development due to shifting customer preferences towards digital platforms, the rise of streaming services, the popularity of mobile devices, and the region's favorable local circumstances and strong economy. Advertisers are adapting their strategies to capitalize on these trends and reach their target audience effectively.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on TV and video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers traditional TV advertising (non-digital formats such as terrestrial TV, cable TV, satellite TV, and linear TV) and digital video advertising (video ad formats: web-based, app-based, on social media, and connected devices).

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party reports, web traffic, and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. 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, population, media consumption, internet users, consumer spending, 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.