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Digital expenditure is driving Sweden’s advertising market, and the internet will remain the largest single ad channel in 2014, according to the “Marknadschefsbarometer Q4 2013” issued by Dagens Media and Netigate - Sweden.
The results reflect responses from 132 CMOs working for the country’s 600 largest advertisers, most of which supply consumer goods and services. Together, these firms spend more than SEK4 billion (nearly $613.5 million) per year on marketing communications—one-tenth of all Swedish spending in that category. The survey was conducted online during December 2013 and January 2014.
Nearly six in 10 marketing executives in Sweden said they would increase their digital ad budgets in 2014, and the internet, which excludes mobile, was expected to claim 29% of total ad budgets in Q1 2014. That share would be substantially greater than those of TV (17%) and newspapers (13%). Dagens Media/Netigate estimated that TV’s share would be higher than in 2013, however.
The study concluded that search would claim about 26% of planned expenditure on digital formats and that social media would garner 20%. Ads placed on web TV were expected to represent just 9% of digital spending, but that would be nearly four times the 2.5% share posted in early 2013.
Meanwhile, spending on mobile ads is rising sharply and should account for 5% of all investments in digital ads in Q1 2014.
Content marketing was also gaining currency among Sweden’s advertisers. Nine in 10 marketing executives said they already used content marketing of some kind. The most popular forms of content developed for marketing purposes were social media posts (mentioned by 67% of respondents), in-house editorial content (56%) and digital newsletters (55%).
The robust digital ad growth indicated by Dagens Media/Netigate was broadly similar to the projections of other research firms. Most calculated expansion in this market at 11% or higher in 2013 and foresaw slightly lower growth in 2014. eMarketer estimates that investment in digital ads passed $1 billion last year and will hit $1.10 billion in 2014.
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