Influencer Advertising - Canada | Statista Market Forecast

Ad spending in the Influencer Advertising market in Canada is forecasted to reach US$579.20m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 10.48%, leading to a projected market volume of US$1.05bn by 2030.
The average ad spending per internet user in the Influencer Advertising market in Canada is expected to be US$15.78 in 2024.
When compared globally, China is set to lead in ad spending, reaching US$19.16bn in 2024.
In Canada, the Influencer Advertising market is experiencing a shift towards micro-influencers for more targeted and authentic brand collaborations.

Definition:
Influencer Advertising refers to advertising that allows marketers to promote products or services by collaborating with influencers on social media. Influencer Advertising allows marketers to reach targeted audiences based on the influencer’s performance and their follower profiles; they also have the ability to measure the performance of campaigns. Influencer Advertising refers to all advertising fees paid directly to influencers (or to their person of trust or representative) for posting or streaming sponsored content (e.g., posts, videos, and/or stories) on social media to promote products or services to their followers. This sponsored content typically includes images, videos, live streams, and/or text.

Additional information:
Influencer Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. For more information on the data displayed, use the info button right next to the boxes.

Advertising spending paid directly to influencers to post sponsored content

The values of giveaway products as well as services that influencers receive in exchange for reviews, mentions, or giveaways for their followers
Advertising spending allocated to paid social media campaigns to boost content
Affiliate commissions, i.e., the commissions that are paid to influencers when someone makes a purchase based on their content or links
Gross merchandise volume (GMV) of transactions from sponsored posts or live streams

The Influencer Advertising market in Canada has been experiencing significant growth in recent years, driven by changing customer preferences and the rise of social media platforms.

Customer preferences: Customers in Canada are increasingly turning to social media platforms for entertainment, information, and product recommendations. This shift in consumer behavior has created a lucrative opportunity for brands to connect with their target audience through influencer advertising. Influencers have become trusted sources of information and recommendations for their followers, who often view them as relatable and authentic. As a result, customers are more likely to engage with influencer content and make purchasing decisions based on their recommendations.

Trends in the market: One of the key trends in the influencer advertising market in Canada is the growing demand for micro-influencers. These are influencers with a smaller but highly engaged audience. Brands are recognizing the value of working with micro-influencers who have a niche following and can create more targeted and personalized content. This trend is driven by the desire to reach specific customer segments and increase the authenticity of influencer partnerships. Another trend in the market is the increasing use of video content. Video platforms like YouTube and TikTok have gained immense popularity in Canada, and influencers are leveraging these platforms to create engaging and entertaining content. Brands are capitalizing on this trend by partnering with influencers who can create video content that aligns with their brand message and resonates with their target audience.

Local special circumstances: Canada has a unique influencer landscape due to its bilingual nature. Influencers who are fluent in both English and French have an advantage in reaching a wider audience in Canada. Brands that recognize this opportunity and partner with bilingual influencers can effectively target both English-speaking and French-speaking customers.

Underlying macroeconomic factors: The growth of the influencer advertising market in Canada can also be attributed to the country's strong economy and high internet penetration rate. Canada has a stable economy with a high standard of living, which allows consumers to have disposable income for purchasing products and services. Additionally, Canada has one of the highest internet penetration rates in the world, providing a large and engaged audience for influencers to reach. In conclusion, the Influencer Advertising market in Canada is experiencing growth due to changing customer preferences, such as the increasing reliance on social media platforms for information and recommendations. The rise of micro-influencers and the use of video content are also driving trends in the market. Canada's bilingual landscape and strong economy, coupled with high internet penetration, further contribute to the growth of the influencer advertising market.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Influencer marketing has become one of the most popular and effective forms of online marketing. With millions of internet users browsing social media platforms for entertainment, inspiration, and product recommendations daily, it is no surprise that marketers are harnessing the power of social media’s most recognizable faces for promotion. The global influencer marketing market value stood at 21.1 billion U.S. dollars as of 2023, having more than tripled since 2019. As influencer endorsement continues to mature as an industry, the size and value of influencer marketing platforms also continue to expand every year, making collaborations between brands and creators more profitable than ever.