With Internet usage among Canadians reaching new highs, domestic marketers are taking notice.
The Interactive Advertising Bureau on Wednesday reported Canadian online ad expenditures rose 14% to $1.82 billion in 2009, despite the economic downturn.
That still leaves the bulk of the Canadian spend going into the pockets of conventional and specialty broadcasters, as well as newspaper publishers.
But traditional media’s share of the ad spend has slipped – the CRTC last month reported that total revenue for the domestic broadcast industry rose 3% in 2009 to CAN$14.4 billion, with falling ad revenue offset by growth in cable and pay TV subscription revenue.
The Interactive Advertising Bureau’s figures indicate the Internet ad spend by domestic marketers is growing, by contrast, and is expected to jump another 15% in 2010 to $2.1 billion.
The online marketers also prefer search ads, spending $741 million on them last year, followed by $578 million poured into online display ads and another $467 million into online classified ads.
“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 in a statement.