© IAB Europe © IAB Europe Austria Belarus Belgium Bulgaria Czech Republic Croatia Denmark Finland France Germany Greece Hungary Ireland Italy Netherlands Norway Poland Russia Romania Serbia Slovakia Slovenia Spain Sweden Switzerland Turkey UK UkraineData for 28 markets in EuropeSECTION TITLEMARKETS© IAB Europe Market more than doubled since 2013 on average 4bn added to the digital ad market every year since 20067.610.616.8 18.321.725.328.231.635.239.944.750.657.764.80102030405060702006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Europe: Total digital ad spend (bn)+33.2bn© IAB Europe Digital drives European ad market to all-time high as aggregate category of other media down since 201097.1 101.4 96.977.9 82.9 82.7 79.2 75.1 73.2 72.3 70.8 69.166.1 63.77.610.6 16.818.321.7 25.3 28.2 31.6 35.2 39.9 44.7 50.6 57.7 64.80204060801001201402006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Europe: Total Media Ad SpendOther Media Online© IAB Europe Double-digit growth despite maturing market: slower than previous two years, but still only 2.4 ppt variation between 2012 and 201939.0%58.6%8.9%18.6%16.5%11.5% 11.9% 11.6% 13.1% 12.2% 13.2%13.9% 12.3%0%10%20%30%40%50%60%70%2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019Europe: Year-On-Year Growth Digital Ad Spend10.0%10.5%11.0%11.5%12.0%12.5%13.0%13.5%14.0%14.5%20182017201520192016201320142012Growth 2012-2019 ranked© IAB Europe Long-term view: 9/10 fastest-growing markets are in CEE2.09 2.071.911.801.64 1.61 1.60 1.57 1.561.52 1.52 1.48 1.47 1.47 1.46 1.461.41 1.41 1.39 1.371.32 1.31 1.29 1.27 1.271.19 1.16 1.1100.511.522.5UkraineBelarusSerbiaRussiaCzechRepublicRomaniaCroatiaTurkeyHungaryFinland UKIrelandSwedenNorwayFranceSloveniaPolandSpainBulgaria ItalyNetherlandsGermanyDenmarkSlovakiaAustriaBelgiumGreeceSwitzerlandMarket size: 2019 vs 2016 (multiplier)© IAB Europe Top 10 markets concentrate 86% of digital ad spend© IAB Europe Zoom-in reveals nuances in size between markets05,00010,00015,00020,00025,000UKGermanyFranceRussiaItalySpainSwedenNetherlandsSwitzerlandNorwayPolandBelgiumDenmarkCzechRepublicTurkeyFinlandAustriaIrelandUkraineHungarySlovakiaGreeceRomaniaCroatiaBulgariaBelarusSloveniaSerbiaEurope: Digital Ad Market Size 2019 vs 20182019 2018020040060080010001200Poland Belgium Denmark CzechRepublicTurkey Finland Austria Ireland Ukraine Hungary2019 2018050100150200Slovakia Greece Romania Croatia Bulgaria Belarus Slovenia Serbia2019 2018© IAB Europe CEE markets lead growth: 10 out of 14 markets that grow above European average are from CEE28.4% 28.0%25.2%22.3%19.1% 18.6% 18.6% 18.3% 18.0%17.5%15.9% 15.3%14.2%12.7% 12.1% 11.6%11.3% 10.9% 10.7% 10.3% 10.3%9.9% 9.3% 9.2%8.4% 7.2%5.2%-7.5%12.3%-10%-5%0%5%10%15%20%25%30%35%SerbiaUkraineBelarusCroatiaTurkeyRomaniaRussiaFinlandBulgariaHungaryIreland UKCzech RepublicNetherlandsSlovakiaFranceSpainPolandSwedenBelgiumNorway ItalySloveniaGreeceGermanyDenmarkAustriaSwitzerlandEuropean averageDigital Ad Spend Growth by Market (YoY)