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The Nordics Is A Fast-Growing Market

Fresh figures from the report Online Market Statistics 2021 (published April 2022) by the Danish industry association Danske Medier show a record-high of 15% growth in digital ad revenue in Denmark compared to 2020. Both Sweden and Norway show similar double-digit growth rates in online ad revenue. Where the advertising market in 2020 was largely affected by corona, and online advertising revenue only increased marginally compared to 2019, the growth in 2021 sets a record.

Record-High Growth Across All Categories

According to Online Market Statistics 2021, the development in Denmark, and correspondingly in Norway and Sweden, is in contrast to a corona-affected 2020 with a modest ad revenue increase from 2019 to 2020. In 2021, Danish digital advertising showed very different and significant growth rates with a total increase of DKK 1.7 billion. kroner.

This positive development is evident in most categories, where Display, including social media, increased by 24.9%. For social media, a growth of over 27% is recorded. It is also reported that the second and especially fourth quarter of 2021 completely broke through the ceiling for digital ad revenue.

Tech Giants Take On Market Shares

At the same time, tech giants' market shares account for more than half of digital revenue. Google and Facebook have increased their turnover in the Danish market with a total growth of more than 1.1 billion in 2021. The two companies' collective market shares account for 64% of the total digital turnover.

According to Mads Brandstrup, CEO of the industry association Danske Medier, these figures are worrying, both for the media industry and the democratic society in Denmark.

"The figures clearly show that the tech giants continue to eat a larger share of the digital advertising market. It weakens competition and has consequences for our democracy. The development challenges our economic foundation to produce quality journalism for the citizens and it impairs access to independent and nuanced information."

Enriched Audience Data In The Nordics

If you/your client are looking to establish a brand presence in the fast-growing Nordic market, we wholeheartedly recommend that you reach out to Nordic Data Resources (NDR). In both 2021 and 2022, NDR is listed on the European Martech Supergraphic in the category Audience/ Marketing Data & Data Enhancement.

NDR will help you respectfully build and reach your unique audience in the Nordics, and offer predefined audience packs as well as support to build a privacy-first data strategy to launch campaigns in sync with next-generation non-intrusive targeting.

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