TECH CRUNCH -- June 11 -- In 2008 the total European online advertising market, or at least the 19 markets analyzed by IAB Europe and PwC, was worth €12.9 billion (approx. $18 billion) with a like-for-like growth rate compared to 2007 of 20%. For comparison, online advertising grew 10.6% in the US in 2008 and was worth €16.6 billion ($23.4 billion). 2009 is set to be a difficult year for online advertising. In the U.S., IAB reported that online advertising declined 5% in the first quarter of 2009 to $5.5 billion, compared to the first quarter of 2008. Industry revenues were down an even steeper 9.8% sequentially from the fourth quarter’s $6.1 billion. FULL ARTICLE @ TECH CRUNCH
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