The Nordics have one of the highest online penetration rates in Europe and are known for their digital innovations and forward thinking. This passion for digital progress also translates into the world of advertising as companies want to reach and target consumers based on their (media) consumption habits. Over the past decade, digital channels and technologies have transformed the
at a tremendous pace, setting the tone for the rest of Europe to follow.
Denmark
Denmark is one of Europe's most progressive digital ad markets, as more than 69 percent of all advertising funds have been devoted to online channels in recent years. By comparison, the
share of digital in total European ad spend stood below 60 percent as of 2021. Overall,
digital advertising spending in Denmark reached about 1.6 billion euros in 2022, up from 1.4 billion the year before. Almost half of all revenues were generated via search advertising as of late, which is a trend that can be observed throughout most Scandinavian and international markets.
Finland
Finland's online ad expenditures stood at roughly 700 million euros in 2022. Even though this figure was less than half the investment reported in Denmark, it still represented a milestone and turning point for Finland's advertising landscape. It was the first year that digital commanded a larger share of advertising funds than traditional formats, signaling the onset of a new era for the industry. As for the most
popular digital advertising formats in Finland, search takes the number one spot, followed by social media.
Norway
In 2021,
digital advertising spending in Norway decreased by three percent and amounted to an estimated 1.7 billion euros. Most recent data also highlighted that Norwegian advertisers devoted approximately 330 euros to digital ad campaigns per capita – roughly twice the size of the European average. But the Norwegian advertising industry not only stands out in terms of investment quantity but also creativity, as demonstrated by VisitNorway's #SheepWithAView campaign, which invited visitors to explore the country through the eyes of its sheep. The campaign featured photo and video content and was promoted on Facebook and Instagram, where it became a viral sensation.
Sweden
Sweden is the largest Nordic country based on population and ranks among the
leading digital advertising markets in (Western) Europe. Based on the latest reports, the country accounted for four percent of Western European digital ad investments in 2023. While this share may not sound particularly high, it still surpassed the contributions of more heavily populated countries such as Belgium. Another peculiarity that sets Sweden apart from its Nordic neighbors is the distribution of digital advertising funds. In 2022, display was
Sweden's top advertising format, with some 2.1 billion Swedish kronor attributed to it. Video and social media followed, whereas search trailed behind.
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