Norway is leading global performance in digital activities but this is no news to marketers worldwide. Consumers in Norway are using the Internet on a daily basis for social media, on their mobile, for payments and even to unlock hotel rooms. For 2014, eMarketer predicted that 95% of Norwegians will be connected to the internet which is an incredible penetration rate in comparison to other countries in Europe and particular worldwide. Also with regards to mobile, 58% of Norwegians will have a smartphone and further growth in this number is expected in 2014. With advertising a similar picture is occuring as Norway’s digital ad market is expected to pass $1 billion in 2016 (eMarketer 2013).
NORWAY’S DIGITAL AD MARKET
Digital advertisement on the web and on mobile platforms is being embraced by marketers in Norway. Norway as a country still has great potential with regards to expanding the digital advertising market. In 2013, the digital ad market is expected to grow by 6.8% to $846.1 million and will further grow at a steady growth rate by 7% in 2014 and 2015, then growth will slow down a little to 6& in 2016 and 5.5% in 2017.
Different research companies are showing the growth rate of digital ad spending differently, depending on whether all formats of advertising are included in the numbers such as ads on computers, mobile phones and tablets, excluding messaging based ads. However, this is still great news for Norway’s digital ad market, as growth is steady over time, reflecting the great potential the country has with regards to digital growth in advertisement.
MEDIA AD SPENDING
When looking in more detail at the estimates by leading research companies with regards to the total media ad spending, similar variations in estimates are being discovered. For 2013, eMarketer predicts the current total media ad spending in Norway to be $2.8 billion which is not increasing over the next 3 years until 2015 but staying at the same level of spending. In comparison to these predictions, IRM Norway projects the total media ad spending to be $3.3 billion in 2013 which is much higher than eMarketer’s figures.
This clearly demonstrates how complex it is to predict future ad spending although Norway as a country and market is already very developed in terms of digital ad spending. Still, research companies have different tendencies and are not always agreeing on what the future will hold for Norway’s digital ad market.
For marketers, this also makes their planning somewhat more difficult, as statistics on digital ad spending, etc. might only be vague predictions rather than clear predictions. Marketers should therefore monitor digital ad spending over time, monitoring changes and variations over time.
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