Executive Summary
Europe’s digital advertising market demonstrated exceptional resilience in 2024, achieving a 16% YoY growth and reaching €118.9 billion despite inflation and geopolitical instability. Greece recorded a total digital ad market size of €364 million, placing it in the 21st position of the 30 measured countries, showing meaningful structural shifts.
Eu European Key Trends (Sources: Slides 2–4, 9–13, 16–18, 20–21)
- Strong Recovery:
- Market grew +16% YoY (constant EUR), above initial forecasts (10%).
- 21 of 30 markets saw double-digit growth.
- Smaller markets like Serbia (+19.2%), Ukraine (+19.4%), and Poland (+15.2%) outpaced mature markets.
- Retail Media Inclusion:
- For the first time, Retail Media is reported separately and grew +22.2% YoY, reaching €11.1bn.
- Reflects a structural pivot towards commerce-based, outcome-driven formats.
- Video Dominance:
- Combined Social and Display Video now account for 53% of all video ad spend.
- BVOD and SVOD video formats are driving premium growth (+23.0% and +29.5%, respectively).
- Programmatic Resurgence:
- Programmatic grew +18.4% overall, hitting €15.4bn, after a more muted 2023.
- Variability across markets suggests uneven adoption.
- Macro Influences:
- 2025 expected to bring investment caution due to EU tariffs and regulatory shifts (Slide 4).
- Outcome-based advertising and accountability are the new priorities.
Greece – Detailed Market Analysis (Source: Slides 15–44)
1. Market Size & Ranking
- Total Digital Ad Spend (2024): €364 million
- Market Rank: 21st out of 30
- Source: Slide 15 (Market Size 2024, current EUR)
2. Growth Rate
- YoY Growth (2024 vs 2023): +12.8% (constant EUR)
- Source: Slide 16
- Inflation-adjusted growth (real terms): +9.8%, suggesting local inflation distortion (Slide 17)
3. Format Breakdown
- Greece has the second highest share of video in display, with 62% of Display Ad Spend going to video formats
- Source: Slide 26
- Reflects growing appetite for video-driven consumer engagement, despite market size.
4. Display Market
- Display Ad Spend (excl. Social): ~€84 million
- Growth YoY: +14.6%
- Source: Slides 23, 24
5. Programmatic & Search
- Programmatic spend grew +15%, below EU average (Slide 31), showing lag in automation uptake.
- Search grew +11.0% (Slide 38) – likely driven by increasing SME digital adoption.