. In 2024, it ranked sixth with ad expenses reaching 23 billion U.S. dollars. Along with its neighbor to the south, the United States, they formed the
that year. Yet, the lion's share of this belonged to the U.S. since the country's ad expenditure amounted to over 422 billion U.S. dollars. The Canadian expenditure amounts to roughly 5.4 percent of that amount.
A highly digitized ad market
Online media dominates the ad industry. It was forecast that
digital channels' share in Canadian ad revenues will reach nearly three-quarters in 2024. The gap is expected to widen even further with traditional media's share barely surpassing one-fifth of the total by the end of the decade. However, TV remains an important medium for Canadian audiences and advertisers. As of 2023,
TV reached nearly 86 percent of adults in Canada every week, and
daily time spent on TV exceeded three hours although that average included linear television and streaming.
Consumer insights
As of mid-2024, social media emerged as
Canada's leading digital advertising touchpoint. They were also one of the
main sources of inspiration when buying a new product tied with digital retail media and yet not as influential as search engines, physical stores, and word-of-mouth. However,
Canadians’ attitudes towards online ads varied. Around 44 percent of adults surveyed in 2024 reported feeling annoyed by ads on the internet, while 40 percent said they did not mind them if they could get free content in return.
Growth perspectives rely on digital channels
Projections indicate that
North America's ad revenues will continue to expand steadily in the following years. By 2029, advertising spending in the area will surpass an estimated 580 billion dollars. The
Canadian ad sector has experienced steady growth over the past few years, albeit at single-digit increase rates since 2022. Meanwhile,
Canada's online ad spending is expected to expand at a faster pace. That suggests that digital channels will continue to push the industry forward as consumers increasingly turn to connected devices.
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