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Market

Market size in EUR

Google's revenues in EUR

Google's market share

Total online advertising

8 000 000 000

[…]*

[20-30%]*

Search advertising

3 198 134 28969

[…]*

[60-70%]*

Non-search advertising (excluding e-mail & classifieds)

2 881 865 71170

[…]*

[0-5%]*

Intermediation (search & non- search, excluding e-mail & classifieds)

[1 495 000 000- 2 077 746 284]71

[…]*

[40-60%]*

investigation. Table 5 shows Google's corresponding 2006 market shares in the various possible relevant markets at the EEA level68.

TABLE 5

Search intermediation

[775 000 000-925

000 000]72

Non-search intermediation

720 466 428-

(excluding e-mail & classifieds)

1 152 746 28473

[…]*

[50-60%]*

[…]*

[30-60%]*

68

Note that the market size and market shares for the intermediation market segments have been based on gross revenues (that it to say including the share of revenues that is redistributed to publishers, also called Traffic Acquisition Costs).

69

According to the IAB report, the search advertising segment accounts for 45% of the total European online advertising market. However, with regard to Google, IAB could not separate search and non- search revenues because Google sells all advertising space through AdSense. The percentage of 45% for the search segment reported by IAB thus includes Google's (intermediated) sales of contextual ads. The correct size of the search segment according to IAB is therefore 40% of the total online advertising market of EUR 8 billion (that is to say 45% of EUR 8 billion less Google’s non-search advertising revenues, which amount to EUR […]* million according to the notifying party's submission).

70

According to the IAB report, the non-search advertising segment (excluding classifieds and e-mail) accounts for 31% of the total European online advertising market. However, for the reasons given in footnote 69, the correct size of the non-search segment according to IAB is therefore 36% of the total online advertising market of EUR 8 billion (that is to say 31% of EUR 8 billion plus Google’s non-search advertising revenues of EUR […]* million).

71

Range of possible market size based on results of the market investigation for search intermediation and, for non-search intermediation, a combination of the results of the market investigation and the IAB report (assuming that 25-40% of non-search sales are intermediated, as confirmed by the market investigation).

72

Range of the possible market size based on the results of the market investigation.

73

Lower and upper bound calculated on the basis of the IAB report, assuming that between 25% and 40% of non-search sales are intermediated (as confirmed by the market investigation); the results of the Commission’s market "reconstruction" are situated within the indicated range of the market size.

33

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