Advertising revenue in Canada 2012-2023, by medium

Digital media remained the most profitable advertising medium in Canada in 2020. With over 5.9 billion U.S. dollars in ad revenue, digital accounted for more than half of all ad revenue in the country. It was also the only sector not to see double-digit declines amid the coronavirus pandemic.

Is digital advertising thriving and traditional media barely surviving?

Looking at the distribution of ad revenue in Canada, digital emerges as the undisputed champion among all media types and formats. Canada’s digital advertising landscape has been expanding for many years, and seeing that consumers are spending more time online than ever, advertisers’ focus is unlikely to shift away from digital promotion anytime soon. On the other end of the advertising ecosystem, traditional media formats have seen ad investments and revenues dwindle in recent years. Nevertheless, a recent survey revealed that television was considered the most trustworthy advertising medium in Canada in 2020, ahead of every online channel.

Impact of COVID-19 on Canada’s ad industry

Canada is among the ten largest ad markets worldwide. In 2019, Canada’s ad revenue reached a record 11.82 billion U.S. dollars, and while this figure had been rising for several years, the outbreak of the coronavirus pandemic caused massive disruption to the industry in 2020. Ad revenue fell by an estimated 14 percent, which was slightly higher than the dip reported for the United States, for example. Outdoor promotion and other traditional formats saw particularly sharp declines in ad revenue, which does not come as a surprise considering that travel restrictions and stay-at-home orders shifted many aspects of everyday life into the digital world.