Digital advertising investment in Spain has experienced a significant surge, reaching a record high of over €5,584 million after a 12.2% growth between 2023 and 2024. According to the Advertising Investment Study in Digital Media 2025, presented by IAB Spain, the automotive, distribution, and institutions sectors have been the most active in terms of digital investment, with growth rates of 11.7%, 10.4%, and 8.6%, respectively.
The study, sponsored by Adjinn and Adevinta and prepared in collaboration with PWC, also reveals that the top three advertisers in 2025 were Telefónica, PSA Group, and Amazon. Automated hiring models, including programmatic investment, search, and social networks, have returned to their 2022 levels, accounting for 72.3% of total investment in 2024. This represents a slight increase from 2023, when automated hiring models accounted for 71.3% of total investment.
Search continues to be a key bet for advertisers in the performance segment, with a growth rate of 13.6% in 2024. This is driven by new opportunities in IDRDING strategies and the incorporation of dynamic models. Influencers and connected TV have also seen significant increases in investment, with growth rates of 59% and 49.3%, respectively.
Connected TV has become the second-highest discipline, with an increase of 49.3% compared to 2023, driven mainly by the incorporation of advertising into digital platforms. However, this growth shows signs of stabilization, with a year-on-year increase of 49.3% compared to 2023, compared to the remarkable growth of 196.5% in 2022.
Non-video display has experienced a 7.7% increase between 2023 and 2024, reaching a total of €676.3 million. Display video has also seen an investment increase of 9.1% compared to 2023, demonstrating the continued commitment to audiovisual formats in the digital environment.
Native advertising continues to consolidate its growth, with increases of 26.8% in the first semester and 15.9% in the second. Branded content has also maintained its growing trend, with a 10.8% increase compared to the previous year, reaching €106.3 million in investment.
## Investment in social networks
Investment in social networks has grown by 26.6% year-on-year between 2022 and 2024, solidifying its position as the second discipline with the greatest investment. Classifieds have risen 5.1%, although the growth rate has slowed down compared to the previous year.
Digital Out of Home (DOOH) investment has grown by 29.6% between 2022 and 2024, but the increase from 2023 to 2024 has been more moderate, reflecting a slowdown in its recent evolution. Digital audio investment has grown by 14.7%, reaching €133.1 million, with streaming consolidated as the dominant discipline, representing 92.9% of the total.
The report concludes that affiliation marketing has shown a growing trend over the last five years, increasing from €84 million in 2020 to €205.6 million in 2024. This growth reflects the increasing importance of digital advertising in the Spanish market, with advertisers continuing to invest in various disciplines to reach their target audiences.