iAB Europe released two back-to-back reports about the region’s online media consumption and things are looking up on both counts.
According to iAB Europe, online advertising continues it double-digit growth with 14.5% year-on-year in 2011, which gives Europe’s online advertising a market value of €20.9 billion, compared to the $31 billion market of the US.
They also announced that there are now 426.9 million Europeans using the Internet across 4 devices – mobile, tablets, game consoles, and computers – throughout 28 European markets.
What are these users doing online? While a staggering 96% of Internet users researches online for purchases, 87% of them shops online. Additionally, majority of these users also treat the Internet as an “all-consuming” media device.
So, what do these reports mean for startups and small businesses in the European market? Two things. First, despite the economy, online advertising is looking up, so good news for those in the industry. Second, we can no longer see the Internet as an isolated medium, so just because you’re focus is on online advertising, it doesn’t mean you can neglect other mediums as well and vice versa.