Television remains a highly effective advertising platform as popular shows, live music, or sports broadcasts can draw millions of potential customers to the screen. In Europe, where advertising activities vary greatly depending on the country, TV advertising has largely maintained its dominant position in the marketing mix despite cord-cutting trends and the digitalization of video content. The
keeps growing every year, encouraging companies to compete for precious airtime to promote their products and services. In 2024, TV ad spend in Western Europe was projected to amount to roughly 29 billion U.S. dollars. Conversely,
suffered a considerable downturn in the last two years. This was attributed to an exodus of international advertisers from the Russian market due to the war in Ukraine.
CTV and FAST keep moving forward
Looking at five of the largest television advertising markets in Europe, namely the United Kingdom, Germany, France, Spain, and Italy, the first three registered slight drops in TV ad spending in 2023, while the latter two enjoyed rising values. This comes amid an increasing focus of European markets on online TV advertising, as more viewers opt for non-linear video entertainment options.
Connected TV (CTV) ad spending grew the most in Spain in 2023, with a rise of almost 100 percent. Free ad-supported streaming TV (FAST) revenue is also experiencing a growth spurt across the continent. For instance,
in the UK, FAST revenue is projected to increase at a rate of around 30 percent in the coming years. The European advertising landscape is sprinkled with regional and international companies of all sizes pushing the buttons in their respective markets. Even though there is no single conglomerate holding a monopoly over the scene, it is also true that some well-established players are expanding their pan-European influence. Sky, for example, Europe’s largest television Group, was the
second-most viewed TV advertiser in the UK in 2023.
Europe holds on to its TV, as consumers adapt to streaming
Digitalization’s rise notwithstanding, the
old continent’s penchant for TV appears to be standing the test of time, with an average of one-third of viewers in main markets citing it as the
most common source of brand discovery. Italy and Germany led the pack in this regard, followed by the UK. Amid concerns over economic stagnation in Europe, more consumers have been downsizing their entertainment expenses. As a result, more than half of Italian viewers opted for
free ad-supported streaming content instead of having to pay not to see ads. This preference was echoed by four out of 10 French TV users.
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