Digital advertising spend in the Irish market last year reached €861 million, the latest results of the IAB PwC Online Adspend report show. The figure reflects a growth rate of four per cent year on year. Display advertising was up by three points to €513m in 2022, driven by the growth in video at seven per cent and non social display growth of eight points.
Following years of strong growth for social display, from €217m in 2019 to €376m in 2022 (an increase of 73 per cent), last year was almost flat with 0.2 per cent growth. Despite the levelling off of social display, the display format remains the dominant force in the Irish market with a 59 per cent share of the total digital advertising market.
Digital audio reported a 33 per cent increase in 2022 and a spend of €16m. Search advertising grew by four points year on year, with an adspend of €300m and a share of 35 per cent of the total Irish digital advertising market. Reflecting the cost of living problems and global uncertainty, the Credit Union consumer sentiment study recorded a low of 48 in 2022.
It was in sharp contrast with the 85.6 point average of the 27 years of the study.
The cost of living was the most widely felt problem and was cited by 69 per cent of consumers. Karen Preston (pictured), chair of IAB Ireland’s board and COO at Mediahuis, said digital has entered “a more mature phase” which is reflected in the slower pace of growth in 2022. However, an average seven per cent growth rate is predicted for this year.