VANCOUVER (NEWS1130) - It's being called a watershed moment for the digital community. The Internet has become the second-largest source of advertising revenue in Canada.
A survey from the Interactive Advertising Bureau of Canada finds the online realm has now surpassed daily newspapers. Television is still number one, bringing in $3.4 billion in 2010.
Online ad revenues grew more than 23 per cent last year, exceeding budget expectations and bringing in $2.23 billion. Search advertising continues to lead online revenue types. But if you break it down by category, car ads brought in the most cash.
Online video advertising grew by 85 per cent, from $20 million in 2009 to $37 million in 2010.
IAB Canada predicts revenues for online advertising will grow by nearly $2.6 billion in 2011, or 16 per cent higher than in 2010.