Tag: Ad Spend
Ad Spend Perspective: How Did Canada’s Ad Market Fare In 2021 and What Does it Mean for The Market as We Enter 2022?
January 26th, 2022 | Kelly Fedoruk, Senior Manager, Client Solutions, SMI
Picture it. It’s Q1 2020. Canada’s ad market was in a growth position vs the prior year, with January and February ad spend from the larger national advertisers tracking up +3% vs the same months in 2019. Then in March the pandemic took over, ad dollars began to leave the market, and Canada would face twelve consecutive months of YoY declines, the first five of which were seeing double-digit losses. Even the historically strong holiday period in Q4 saw less ad spend than the year before, finishing down -4%.
There was hope for 2021, but it started out soft, with both January and February spend unable to reach the same levels as we saw in pre-pandemic years. March 2021 was the first month where Canada saw cross-media ad spend surpass both March 2020 and March 2019 levels. Perhaps Canada was finally rebounding? Maybe advertisers were feeling confident enough to start spending again? Not so fast.
Q2 told us otherwise with ad spend still down -6% vs Q2 of 2019. If Canada had any hope of returning to pre-pandemic investment levels in 2021, it would have to be in the back half. We didn’t disappoint!Read More