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inventory provided by AdSense’s member publishers) also obtains ad serving from Google via AdWords. No stand-alone, third-party tool can access this inventory controlled directly or indirectly (via AdSense) by Google.

    • 95.

      Through these direct and intermediated sales channels, Google is the leading provider of online advertising, and in particular of search ad space in the EEA. In the following section, this leading market position will be specified in more detail for each of the possible relevant markets: firstly, on the basis of the market size and market share estimates submitted by the notifying party; secondly, on the basis of the market size as reported by third party market studies and reports and the Commission's market investigation; and thirdly, by briefly indicating those market participants which may be considered as Google's main competitors in the relevant market(s).


          Market share estimates submitted by the notifying party

96. While there are a number of different third party studies and reports on the overall online advertising market for the worldwide market, various combinations of several EEA Member States and various individual EEA Member States (such as reports from Zenith, Emarketer, PWC, Forrester, Enders, OVK, Gemius (Europe) IAB and Jupiter), the notifying party submits that there is a general tendency for estimates regarding the size of online advertising spending to be understated by these studies and reports. According to the notifying party, this is particularly apparent as far as the relevant reports provide a separate estimate for spending on search advertising and this estimate is lower than Google’s revenues from search advertising in some countries46. On the basis of a combination of the available studies and reports with corrections for those countries where Google’s revenues exceed the reported market size, the notifying party estimated the total market size and Google’s market shares in the various possible relevant markets.

Total online advertising market

97. The notifying party estimated the size of the worldwide online advertising market (including all different formats and targeting methods of online advertising, that is to say search ads, (non-search) contextual and display ads, classifieds and e-mail) to range between EUR 19.4 billion47 and EUR 24.1 billion in 200648. Considering Google’s 2006 worldwide net revenues of EUR


As is the case with the 2006 data reported by Jupiter for 6 EEA Member States, that is to say Germany, Ireland, Luxembourg, the Netherlands, Spain and the United Kingdom, where Google’s search revenues exceed Jupiter’s estimate of the size of the search segment by up to [EUR [several hundred]* million]*.


Market size as reported by Zenith.


Estimated as the sum of the total EEA-wide market size (based on a combination of different sources, including Jupiter, IAB, Zenith, PWC, Enders, OVK, Gemius), the total Australian market size (Google Australia/IDC), the total Brazilian market size (Gemius/IBOPE - netratings) and the total United States market size (estimate of search segment from Enders, estimate of display segment from Enders, estimate of “other” from Morgan Stanley).


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