The rise in ad spending
Digital advertising has grown to become the most powerful and important form of advertising. In 2020 alone 356 billion dollars was spent on digital advertising globally and that number will continue to rise. Although ad spending has been impacted by COVID-19, it is expected that there will be a 17% bounce back in 2021 up from a 2.4% growth in 2020.
The rise in ad spending is evident in Canada and as a result, has become one of the largest advertising markets in the world. In 2020, 8.45 billion Canadian dollars was spent on advertising and by 2024 that number is expected to exceed 12 billion dollars.
Canada’s advertising industry continues to see an increase in digital ad investments and ad revenue. The reason why digital ads have become increasingly popular is because of the shift in consumer behaviour, in particular, the switch from traditional media to digital media. As a result of this change and marketers’ ability to adjust to consumer behaviours, advertisers spend more than half their budget on digital ads and campaigns. Canada is among the global leading ad markets that rank high on that list.
Search advertising revenue continues to grow every year however, online video advertising has seen the highest surge in ad spend. This is because video platforms and streaming services are very popular among Canadian users. Mobile advertising is also a major trend in Canada. The number of mobile users will surpass 30 million in 2021 and that number will continue to grow. In 2020 mobile ad spending surpassed 7 billion dollars, making it a significant form of advertising. Canada also ranks high among the countries with the highest share of mobile digital ad spend with more than 76% spent on mobile ads.
Sandra Gabriel, the founder of Gabriel PR, shares her thoughts on the importance of advertising online “digital advertising is by far the most cost-effective way for your brand to reach the masses”. Whether your brand is big or small, digital advertising allows you to reach a targeted audience on a budget.
If you want to grow your brand or business, digital advertising is the answer!
Gabriel PR is a boutique digital PR and branding agency. Since 2005, Gabriel PR has worked with entrepreneurs around the world to start, launch, promote and grow their brands online.