Internet Advertising Passes $1 Billion in Canada

It sounds repetitive but it's worth noting that online advertising has grown substantially again in Canada. This time the report from the Interactive Advertising Bureau of Canada said online advertising spending totaled $1.01 billion for 2006, up a whopping 80% from 2005.

Furthermore, it's expected to grow another 32% in 2007, to $1.4 billion. IAB president Paul Gignac predicts that 'it may only take us another 2-3 years to reach the second billion'.

These findings were confirmed in a separate survey by the Institute of Communications and Advertising and Canada Post. This survey of 270 senior marketing executives reported that Internet advertising will grow at the fastest rate, which they are estimating at 25%. Traditional, albeit much larger, is growing at 5.9% according to them.

The U.S. has similar growth trajectories reporting a 23.1% increase over the same period last year from 'interactive agencies', while traditional down there is growing at 4.2%, according to Advertising Age.

The shift is not a fad, having been the case for the past 5 years, with year after year increases in interactive agency revenues and online advertising. What's more important I think is the following quote:

"Interactive is huge," says Chris Weil, chairman-CEO of Momentum Worldwide, a promotions agency owned by Interpublic Group of Cos, via AdAge.com. "If anybody in marketing is not a big part of interactive, they won't be around much longer."

Labels: Canada Post, IAB, Interactive marketing, online advertising

posted by Fred @ 10:02 AM