While the roar of the crowd in a football stadium might be Spain's most famous sound, a quieter but relentless growth story is unfolding in its advertising industry, which surged to a record 13.47 billion euros in 2023 as digital channels fuel its expansion.
Key Takeaways
- In 2023, Spain's total advertising market expenditure reached 13.47 billion euros, reflecting a 7.2% year-over-year growth driven by digital channels.
- Spain's advertising revenue is projected to grow to 15.1 billion euros by 2027, with a CAGR of 3.8% from 2023-2027.
- In 2022, advertising investment in Spain totaled 12.57 billion euros, up 12.1% from 2021.
- Spain's digital ad spend reached 5.92 billion euros in 2023, comprising 44% of total ad market.
- Search advertising accounted for 2.8 billion euros in Spain 2023, 47% of digital spend.
- Social media ad revenue in Spain was 1.45 billion euros in 2023, up 18% YoY.
- Spain TV advertising investment was 3.45 billion euros in 2023, down 2.1% YoY.
- Generalist TV channels captured 78% of TV ad spend in Spain 2023 at 2.69 billion euros.
- Pay TV ad revenue in Spain: 760 million euros in 2023.
- Spain print advertising spend totaled 1.02 billion euros in 2023, decline of 8.5%.
- Newspapers ad revenue: 620 million euros in Spain 2023.
- Magazines print ads: 180 million euros, down 12% YoY Spain 2023.
- In 2023, 72% of Spanish consumers trusted influencer recommendations, boosting ad trends.
- 58% of ad budgets shifted to digital in Spain by 2024 forecast.
- Sustainability-focused ads grew 25% in spend to 1.2 billion euros Spain 2023.
Spain’s advertising industry is growing robustly, led by a strong digital shift.
Digital Advertising
- Spain's digital ad spend reached 5.92 billion euros in 2023, comprising 44% of total ad market.
- Search advertising accounted for 2.8 billion euros in Spain 2023, 47% of digital spend.
- Social media ad revenue in Spain was 1.45 billion euros in 2023, up 18% YoY.
- Video advertising digitally grew to 1.2 billion euros in 2023, 20% of digital total.
- Display ad spend (excluding video) was 0.9 billion euros in Spain 2023.
- Mobile advertising represented 68% of digital ad spend in Spain at 4.02 billion euros in 2023.
- Programmatic advertising volume in Spain hit 3.1 billion euros in 2023, 52% of digital.
- Influencer marketing spend in Spain reached 120 million euros in 2023.
- E-commerce ad spend grew 22% to 1.8 billion euros in Spain 2023.
- OTT/CTV ad revenue in Spain was 250 million euros in 2023, up 35%.
- Digital ad CAGR 2023-2027 forecasted at 8.2% in Spain.
- Google held 45% of Spain's digital ad market share in 2023 with 2.66 billion euros.
- Facebook/Meta ad revenue in Spain: 1.1 billion euros in 2023.
- Amazon ad spend share in Spain grew to 8% of digital in 2023, 474 million euros.
- TikTok ad revenue in Spain reached 180 million euros in 2023.
- Digital out-of-home (DOOH) ad spend: 85 million euros in Spain 2023.
- Audio digital ads (podcasts, streaming) : 95 million euros in 2023 Spain.
- Retail media networks ad spend in Spain: 220 million euros 2023.
- Native advertising digital spend: 350 million euros in Spain 2023.
- Email marketing ad equivalent spend: 150 million euros Spain 2023.
Digital Advertising Interpretation
Spain's advertising industry has clearly bet the house on digital, where nearly half of all spending now flows into a mobile-first, Google-dominated landscape fueled by shoppers, scrollers, and a programmatic engine that automates over half the market.
Market Size and Revenue
- In 2023, Spain's total advertising market expenditure reached 13.47 billion euros, reflecting a 7.2% year-over-year growth driven by digital channels.
- Spain's advertising revenue is projected to grow to 15.1 billion euros by 2027, with a CAGR of 3.8% from 2023-2027.
- In 2022, advertising investment in Spain totaled 12.57 billion euros, up 12.1% from 2021.
- The Spanish ad market share of GDP was 0.91% in 2023.
- Advertising expenditure per capita in Spain stood at 282 euros in 2023.
- Between 2019 and 2023, Spain's ad market grew by 22.4% cumulatively.
- In Q4 2023, quarterly ad spend in Spain hit 3.6 billion euros.
- Spain's ad market recovery post-COVID reached 95% of 2019 levels by end-2022.
- Total ad investment in 2021 was 11.22 billion euros, surging 28% from 2020.
- By 2025, ad spend is forecasted at 14.3 billion euros.
- Spain's ad market grew 5.3% in H1 2023 compared to H1 2022.
- Advertising as percentage of consumer spending in Spain was 1.8% in 2023.
- From 2020-2023, ad market CAGR was 6.1%.
- Q1 2024 ad spend reached 3.1 billion euros, up 6.8% YoY.
- Spain ranks 15th in Europe for ad market size with 13.47 billion euros in 2023.
- Ad spend inflation-adjusted growth in Spain was 4.2% in 2023.
- Total billings for top 100 advertisers in Spain hit 4.2 billion euros in 2023.
- Spain's ad market share in Western Europe is 4.1% in 2023.
- 2023 ad growth was highest in services sector at 15%.
- Historical ad spend in 2019 was 11.01 billion euros.
- In 2023, Spain had 1,250 advertising agencies employing 45,000 professionals.
- Top 10 ad agencies billings totaled 2.1 billion euros in Spain 2023.
- Freelance ad creatives numbered 8,500 in Spain 2023.
Market Size and Revenue Interpretation
Despite climbing to a record 13.47 billion euros on the back of digital's relentless march, Spain's ad industry, while robust, still plays a supporting role at just 0.91% of GDP, proving that even a market of 45,000 professionals and 8,500 freelancers can shout loudly without drowning out the actual economy.
Print and Outdoor Advertising
- Spain print advertising spend totaled 1.02 billion euros in 2023, decline of 8.5%.
- Newspapers ad revenue: 620 million euros in Spain 2023.
- Magazines print ads: 180 million euros, down 12% YoY Spain 2023.
- Supplements and free press ads: 220 million euros Spain 2023.
- Outdoor advertising (OOH) spend: 620 million euros in Spain 2023, up 4.2%.
- Billboard OOH: 320 million euros, 52% of OOH total Spain 2023.
- Transport advertising: 120 million euros in Spain 2023.
- Cinema advertising revenue: 45 million euros Spain 2023.
- Radio advertising: 480 million euros in Spain 2023, stable.
- National newspapers ad pages down 10% to 1.2 million pages Spain 2023.
- Regional press ads: 280 million euros 2023 Spain.
- DOOH share of OOH grew to 18% or 112 million euros Spain 2023.
- Street furniture OOH: 150 million euros Spain 2023.
- Radio FM ad spend 95% of radio total at 456 million euros 2023.
- Top print advertiser: Lidl with 35 million euros Spain 2023.
- Spain radio listenership ad exposure: 18 million daily listeners 2023.
- Cinema ad impressions: 250 million in Spain 2023.
- OOH digital screens: 15,000 units in Spain 2023.
- 65% of Spaniards noticed OOH ads weekly in 2023 survey.
Print and Outdoor Advertising Interpretation
While print advertising in Spain continues its dignified retreat into the history books, the outdoor industry is quite literally broadcasting its comeback on every available screen and street corner.
Television Advertising
- Spain TV advertising investment was 3.45 billion euros in 2023, down 2.1% YoY.
- Generalist TV channels captured 78% of TV ad spend in Spain 2023 at 2.69 billion euros.
- Pay TV ad revenue in Spain: 760 million euros in 2023.
- Prime time TV ad rates averaged 25,000 euros per 30s spot in Spain 2023.
- Top advertiser on Spanish TV: Procter & Gamble with 120 million euros spend 2023.
- TV ad GRPs for top 20 advertisers totaled 45,000 in Spain 2023.
- Regional TV ad spend: 180 million euros in Spain 2023.
- Sports TV advertising surged 12% to 450 million euros during events in 2023 Spain.
- TV ad share of total market fell to 25.6% in Spain 2023.
- H1 2023 TV ad investment: 1.72 billion euros, flat YoY.
- News programs captured 22% of TV ad spend in Spain 2023.
- Fiction series TV ads: 15% share, 518 million euros Spain 2023.
- Children programming TV ad revenue: 45 million euros 2023 Spain.
- TV ad effectiveness index rose 5% in Spain 2023 per Kantar.
- Atresmedia TV ad revenue: 850 million euros in 2023.
- Mediaset España TV ads: 720 million euros 2023.
- Public TV (RTVE) ad-free but sponsorships: 60 million euros equivalent 2023.
Television Advertising Interpretation
Despite Procter & Gamble spending a king's ransom to make you think your house is dirty, Spanish television advertising is having its own mid-life crisis, clinging to prime-time relevance while its overall market share quietly shrinks.
Trends and Forecasts
- In 2023, 72% of Spanish consumers trusted influencer recommendations, boosting ad trends.
- 58% of ad budgets shifted to digital in Spain by 2024 forecast.
- Sustainability-focused ads grew 25% in spend to 1.2 billion euros Spain 2023.
- 41% of Spaniards use ad blockers, highest in EU, impacting digital 2023.
- Personalized ads preferred by 67% of Spanish consumers in 2023.
- AI in ad creation adoption: 35% of agencies in Spain 2023.
- Phygital campaigns (physical+digital) up 40% in 2023 Spain.
- User-generated content ads effectiveness: 28% higher engagement Spain 2023.
- 2024 forecast: Digital to 52% of total ad market Spain.
- Gaming advertising spend to reach 300 million euros by 2025 Spain.
- 55% of Gen Z in Spain discover brands via social media ads 2023.
- Privacy-first advertising (post-cookie) 20% of digital spend 2024 Spain.
- Voice search ads projected 15% CAGR to 2027 Spain.
- 48% increase in shoppable ads usage on Instagram Spain 2023.
- Metaverse ad investments: 50 million euros experimental spend 2023 Spain.
- 62% of advertisers plan CTV budget increase in 2024 Spain.
- DEI (diversity) in ads: 75% of top campaigns featured it 2023 Spain.
- Short-form video ads (Reels/TikTok) 30% of social spend 2023.
- 2027 forecast: Total ad market 16.2 billion euros Spain.
- Neuromarketing adoption in ad testing: 22% agencies Spain 2023.
Trends and Forecasts Interpretation
Spain’s ad industry is a masterclass in paradox, where consumers who overwhelmingly trust influencers and crave personalization are also the EU’s most enthusiastic ad-blockers, forcing brands to chase them with phygital stunts, sustainable appeals, and shoppable Reels, all while cautiously betting on AI, the metaverse, and a cookieless future.
Sources & References
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