Since we started tracking Canada’s ad market more than a decade ago, advertisers have steadily increased their investments in digital.
Back then, less than a quarter of ad expenditures were in digital. But last year, digital reached new heights at the expense of traditional formats.
In 2020, digital video ad spending exceeded TV ad outlays for the first time in Canada. Digital video gained the most momentum of any format last year, growing by 10.0% year over year (YoY). This includes both in-stream video formats (e.g., YouTube ads) and those outstream (ads appearing in social media feeds).
In 2021, digital video ad spending will grow by another 15.2% to CA$3.25 billion ($2.43 billion). Double-digit growth will continue for a couple more years, and by the end of 2024, the format will account for more than a third (34.0%) of digital advertising and about a fifth (20.2%) of all advertising.
via eMarketer