Report: Advertising spending in Canada
IPG Mediabrands has released a report on advertising spending in Canada. According to the report, ad spending increased 4.4% during 2019 to $16 billion, related in part to the national election and the Toronto Raptors winning the NBA championship. The report goes on to predict that this growth will slow to 3.8% in 2020. Furthermore, non-digital media spending will decline by 6%, while digital spending will increase by 10%. Social media spending will rise by 14%, while digital video spending will increase by 13% and search engine spending will increase by 9%. Television ad spending is predicted to fall by 3%, while print spending will decline by 16%. Radio spending will fall by 4%, while out-of-home spending will increase by 2%. Globally, advertising revenue increased 5.2% in 2019 to US$595 billion.
“Digital advertising is leading the way in Canada with social, video, and search driving increased spend,” said Treva Goodhead, vice-president of investments at Magna Canada, a subsidiary of IPG. “Traditional non-digital channels continue to be challenged as Canadians change their habits with new mediums like OTT services and media companies raise their advertising rates.”