KNOWLEDGE HUB

Market Reports
26.05.2025

2024 ADEX BENCHMARK- EUROPE

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)

  1. 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.
  1. 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.
  1. 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).
  1. Programmatic Resurgence:
    • Programmatic grew +18.4% overall, hitting €15.4bn, after a more muted 2023.
    • Variability across markets suggests uneven adoption.
  1. 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.

Greek flag 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.