Yahoo's Q4 UK search advertising share dropped from 13.9 percent in 2007 to 8.4 percent in 2008, a 40% decline. Making things worse is that UK search ad spend actually increased by 11% during the fourth quarter.
Advertisers apparently shifted their dollars to Google, who saw an increase from 82.6 in 2007 to 88.2 in 2008. Microsoft held steady, coming in with a 3.4 percent share in 2008.
These numbers were released by Efficient Frontier and include contextual advertising. Yahoo's dismal performance may be one reason they decided to shut down their Content Match program in Europe earlier this month.