Covario: More paid search ads bought on Google

12th August 2008

Marketers in the Europe, the Middle East and Africa region are spending more of their paid search budgets on Google's solutions.

This is according to a new report from analytics firm Covario, which suggested that 90 per cent of paid search ad budgets were accounted for by Google during the second quarter of the year.

Despite this, the search giant is suffering in other markets and is even losing market share to Yahoo! in North America, the report indicated.

In North America, Yahoo! took 14 per cent of paid search budgets, increasing from ten per cent in the first quarter. However, Google saw its own share drop.

"It is very exciting for us to be able to observe first-hand such trends as the bucking of the biggest losing streak in the paid search market - the loss of market share by Yahoo! to Google," said Craig Macdonald of Covario.

About £2 billion will be spent on search-related online ads this year in the UK, according to a report from eMarketer.