I just got back from a holiday on the Greek islands, where there is more French than Greeks in the summer.
This brings me to focus my second media watch on Western Europe.
The main part of Western Europe is a politico–economic union. The European Union was initially founded by France, Italy, Luxembourg, Netherlands, Belgium and Germany in 1957. It later grew to 28 member states.
Its most recent additional is Croatia since 2013.
- Population: 508 Million
- Internet penetration: 78.5%
- Northern Europe and Scandinavia lead the way with the highest penetration rates peaking above 95%, whereas southern & eastern states seem to remain far behind around the 75% mark.
- With 30% of its overall ad spend going towards digital, Europe’s share of online spend is above the worldwide average of 28%.
The UK records the highest share, with digital representing 50% of its total media spend.
Italy is at the bottom end with 18%.
Over the next 4 years the share of online is due to remain fairly stable.
- Growth will come from mobile ad spend which will triple in most countries from 2015 to 2019.
It seems that here will be a transfer from digital to mobile spend rather than a strong overall growth.
- Opportunities for international companies: Manageable cultural gap between US and Europe backed up by large population make Europe good territory o leverage scale.
Do not under estimate the impact of national language and identity on your communication & business strategy.
- Barriers for international companies: Market fragmentation and economic differences between countries.
- Personal observation: As the European Union grows, more diversity & difficulties emerge.
- Fun fact: There is always something happening in Europe
- Travel tips: Trust me, train can be a better option than flying. Especially between Paris & London !!
Source: Internet world stat, Emarketer