Digital ad spending in Canada recorded a growth of 11.1% to $9.62 billion in 2020, a new report from IAB Canada has found.
According to the findings, social media made up 27.7% of digital spending at $2.67 billion, and was the second highest-growing category in 2020. That was up from 22.7% compared to the prior year.
IAB found that 74% of spending on display ads went to “standard” formats – basic banners and large format ads – with 26% going to “premium” formats – things like brand takeovers and sponsored placements. Classified and digital OOH were the only two formats to see declines in 2020, with the former dropping by 12% and the latter by 23.5%.
You can read the full story in Media in Canada here.