The Interactive Advertising Bureau of Canada (IAB) today announced that Canadian online advertising revenues for 2010 exceeded budgeted expectations of $2.1 billion, and grew by 23% to $2.23 billion for 2010.
As a result, the Internet has surpassed Daily Newspaper, and is now second only to Television in terms of share of total Canadian media advertising revenue.
Online advertising's 23% increase from 2009 to 2010 also bested all other major media, all but one which experienced only single-digit growth rates during this time.
Search advertising continues to lead in terms of share of dollars booked by Online Publishers ($907 million/41%), followed by Display ($688 million/31%) and Classifieds ($587 million/26%). Together, these three advertising vehicles represent 98% of all Online advertising booked in Canada.
Online Video advertising grew by 85%, from $20 million in 2009 to $37 million in 2010. Publisher-based Email advertising lost ground, declining from $13 million in 2009, to $11 million in 2010; while Video Gaming advertising dropped from $3 million to $2 million.