Summary
European interactive ad spending survived the recession better than other marketing channels: Search marketing spending grew 15% across Western Europe in 2009, and online display ad spending grew by 1%. The growth of search spending will gradually slow in the next five years — as it has for the past six years as well — while display ad spending, driven by the growth of rich ad formats, will accelerate through 2014. Because display ad pricing bore the brunt of the recession, display advertising offers good value for European interactive marketers — most notably video ad inventory.
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