Advertising industry in the Nordics - Statistics & Facts
With revenues of more than 3.6 billion euros, Sweden was the largest advertising market among the Nordic countries as of 2016. Norway (roughly 2 billion euros) and Denmark (almost 1.8 billion euros) came in second and third place respectively. In comparison, Finland’s advertising industry generated 1.17 billion euros that year. However, Denmark was the country with the highest digital advertising share – online ads accounted for 50 percent of total market revenue. Meanwhile, the digital share was 28 percent in Finland.
Overall, the online advertising market in the Nordic countries recorded strong growth. According to the Institute for Advertising and Media Statistics, the revenue increased in Sweden, for example, from roughly 12.98 million Swedish kronor generated in 2015 to 15.64 billion Swedish kronor as of 2016. Furthermore, it is forecasted that the market will grow to 18.2 billion Swedish kronor at the end of 2017. A similar development can be observed in Denmark, where spending on digital advertising increased from roughly 2.5 billion Danish kroner in 2007 to more than 6 billion Danish kroner eight years later. With approximately 2.95 Danish kroner, display ads still accounted for the highest expenditure on online advertising in Denmark that year. But paid search ad spend rose the most from 2007 to 2015.
According to Kantar TNS, print media were the second most valuable in Finland, with an advertising expenditure share of 40.6 percent as of 2016. Newspapers accounted for 29 percent of total advertising spending in print media. In comparison, the share of print magazines amounted to only 6.4 percent. That year, it was a different picture in Norway. After the internet, television (roughly 3.94 billion Norwegian kroner) ranked second among media with the most advertising expenditure. 3.1 billion Norwegian kroner were spent on the daily press. The Norwegian Media Authority even found that the print newspaper advertising market decreased in the past years. Whereas the revenue amounted to 6.37 million Norwegian kroner in 2012, it was only 3.4 million Norwegian kroner in 2016. The advertising spending of digital newspapers increased slightly during the period under consideration.
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