Can the digital ad market be made to grow?
- by admin
An emerging trend is digital advertising.
It’s used to drive business and social engagement for online companies.
But it’s also seen as an investment for advertisers, and as a way to target people with the most information.
And as digital advertising evolves, the question is how will it be funded?article The digital advertising industry, which includes advertising platforms, retailers, social media and more, has seen its revenues grow significantly over the past decade.
Now, digital ad revenue is forecast to hit $1.4-billion in 2019, up from $1-billion a decade ago.
And it’s expected to grow another 5 per cent by 2020, which is forecast by the CRTC to be its highest rate of growth since 1995.
The biggest gains are seen in social media.
Digital advertising accounts for one-third of the overall digital advertising market.
The share of online advertising has been steadily rising since the late 1990s.
According to research firm Kantar Worldpanel, in the last three years, digital advertising accounted for more than half of all online advertising revenue.
The growth in digital advertising is due to the rise of apps, mobile and social networks.
In 2017, the combined advertising spend on social media grew from $2.4 billion to $7.2 billion, according to the CRBC.
That figure was up by $500 million from 2016.
The growth has been especially strong for Canada’s advertising agencies.
The average agency spent $1,800 more on digital advertising in 2017 than in 2016, and the agency that spent the most in 2017 was the one with the highest share of digital advertising revenue: MediaCog.
According to research from DigitalAds.ca, the share of advertising spending on social networks has increased by over 50 per cent over the last five years.
The rise has also been driven by digital channels such as Facebook, Twitter, YouTube, Instagram, Pinterest and Snapchat.
And in 2018, the number of Facebook followers and Instagram followers for agency brands increased by nearly 60 per cent and by 30 per cent for agencies with at least 100,000 followers.
An emerging trend is digital advertising.It’s used to drive business and social engagement for online companies.But it’s also seen as…