Study: Canadian advertising spending to increase over next four years
By Adnews Staff
PricewaterhouseCoopers has released a study predicting that the Canadian advertising market will continue to recover over the next few years. While digital advertising platforms will continue to grow, traditional media such as television and print will continue to attract the majority of advertising spending. The company expects television advertising in Canada to increase at average annual growth of 3.8% to US$3.4 billion by 2014. Conventional television advertising is expected to attract US$2.1 billion in revenues in 2014, an increase of 2.4%, while specialty television ad revenues will increase by 4.8%. These results are drawn from a study called "Global Entertainment and Media Outlook: 2010-2014" that includes forecasts for 13 entertainment and media segments in 48 countries. "The big story in 2009 was the recession's impact, which led to a broad pull back in advertising spending," said Michael Paterson, Canadian co-editor of the study. "The exception was Internet advertising, which grew at a double digit pace. As Canada's economy is recovering ahead of the US economy, we expect that the Canadian advertising market will rebound more quickly. Increased demand and opportunities for Internet and mobile advertising along with sustained spending on traditional advertising platforms will drive growth."