Canadian online ad spend grows
Online advertising expenditures jump 14% to $1.74 billionTORONTO -- Despite a traditional media advertising downturn last year, Canadian online advertising expenditures jumped 14% to CAN$1.82 billion ($1.74 billion), the Interactive Advertising Bureau reported Wednesday.
Local marketers are chasing Canadian TV viewers onto the Internet as they increasingly watch video online.
Google will be happy. Search online advertising continues to be the preferred vehicle for Canadian marketers, with CAN$741 million ($711 million) booked last year, or a 41% share of the market.
That was followed by a display online ad spend at CAN$578 million ($554.7 million), and classifieds with CAN$467 million ($448 million).
"It seems incredible that after passing the $1 billion revenue mark just two years ago, and after the worst recession in history, Internet advertising in Canada is poised to break through to the $2 billion mark in 2010," IAB Canada president Paula Gignac said.
Gignac predicted Canadian marketers will spend around CAN$2.1 billion ($2.01 billion) on digital advertising in 2010, up 15% from 2009 levels.