The Interactive Advertising Bureau of Canada predicts online ad spend will grow 15% next year. The bureau’s projected total for online advertising revenue in 2008 is estimated at $1.5 billion – a 25% hike over 2007 actuals of $1.2 billion.
According to a recent article in Media Post (Oct. 28, 2008), Publicis chairman and CEO Maurice Levy said "...digital media would likely prove the most resilient form of marketing expenditures should the economic environment remain erratic or worsen."
Digital marketing and communications is expected to remain stable due to the fact that the medium is highly measured: "...we know the return on investment immediately, we know what works and what doesn't work. So I don't see digital collapsing, I don't see digital going down, I see digital still growing in 2009 and the years to come."
According to IAB Canada, the Internet now reaches more adults each week than magazines and newspapers. Consumers spend an estimated 23% of their weekly time online, although online ad revenue represented only 8.7% of total Canadian advertising spend in 2007. "[This] indicates that advertisers haven't even begun to use the medium to its full capabilities," says IAB Canada.
"There's actually never been a more appropriate time for advertisers to take advantage of… interactive advertising," says Paula Gignac, president of IAB Canada, in a released statement. "Consumer time spent on the Internet and in other interactive channels will continue to grow regardless of the economic environment, for the simple reason that these channels continue to enrich the lives of consumers, and satisfy their needs across both utility and entertainment fronts on a daily basis.
"In the months to come, smart advertisers will keep their eye on the media choices of consumers rather than daily stock market fluctuations, and forge ahead with their plans to shift more dollars into interactive advertising in 2009."