IAB says online advertising up 29% in 2008; quadrupled in 5 years

The Interactive Advertising Bureau of Canada (IAB) today announced that online advertising grew by 29% in 2008, reaching an estimated $1.6 billion.

Publisher revenue from Online advertising in Canada has more than quadrupled over the past five years -- building from $364 million in 2004 to the $1.6 billion mark in 2008 -- surpassing 2008 Radio revenues of $1.55 billion in the process.

The bureau says online now represents 11% of the total $14 billion adspend in Canada.

“Even in the face of uncertain economic conditions and continued pressure on total advertising budgets, clearly, Online advertising has cemented itself as a mainstay in the overall media buy,” says Paula Gignac, President, IAB Canada.

“And although 2009 has presented substantial challenges to the entire Canadian marketing community, we’re confident that Online advertising will continue to grow at the projected pace, for the simple reason that as the Internet continues to engage and delight consumers, it matches these accomplishments with a persistent ability to deliver measureable Advertiser results.”

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