Digital advertising soar 118 percent in Turkiye

Digital advertising in Türkiye surged 118 percent last year from 2022, according to IAB Europe’s latest ADEx Benchmark report.

This marked the highest increase among all European countries.

Digital advertising spending in Türkiye amounted to 3.48 billion euros in 2023, according to the report.

Most European markets showed robust gains overall in 2023 with 13 European markets seeing double-digit growth.

“Of those markets, nine Central and Eastern European markets grew over the European average of 11.1 percent with Türkiye seeing 50 percent growth, Serbia 27.6 percent and Ukraine 25.2 percent,” the report said, adding that growth in Türkiye can largely be attributed to inflation.

Display growth in Türkiye was 130.9 percent, well above the European average of 12.7 percent, with display spending reaching 2.6 billion euros.

The share of display in total digital ad spending was 74.2 percent in Türkiye last year.

Social advertising’s share in total digital display advertising spending was 59.6 percent, whereas the European average was 48.3 percent.

The video advertising market in Türkiye reached 1.25 billion euros last year, with this market exhibiting a 180.2 percent growth, according to the report.

The share of video in display advertising spending was 48.5 percent in 2023.

Türkiye’s digital advertising market has consistently ranked in the top 10 in Europe and has seen the fastest growth for the last two years, said Burak Ertaş, the chairman of IAB Türkiye.

“With a growth rate of 50 percent, adjusted for inflation, it’s clear that digital advertising is booming in Türkiye,” he added.

There has been a significant increase of over 9 percent in the number of companies advertising digitally from 2022 to 2023, according to Ertaş.

Source: hurriyetdailynews

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