The United States is the leading digital advertising market in North America and worldwide, with ad spending forecast to exceed 200 billion U.S. dollars by 2023. Over the past few years, the U.S. has not only seen a considerable increase in digital ad expenditure, but it has also witnessed a significant redistribution of advertising funds, away from television to digital media. This shift is largely fueled by mobile advertising, one of the most promising digital advertising formats of the last decade. While roughly 87 billion U.S. dollars were spent on mobile ads in 2019, expenditure in this area is estimated to surpass 120 billion in 2021. These figures mirror the rapid changes in the digital ecosystem of North America.
The advertising industry in Canada is seeing a similar advancement towards digital. In 2019, some 8.34 million Canadian dollars were spent on digital formats, which accounted for over 40 percent of total media ad spend that year. Looking at the revenue that is generated by internet advertising, mobile stands out as the most profitable channel.
But while internet advertising spending is increasing in many parts of North America, not all countries are adapting to digital marketing trends at the same rapid pace. Mexico, for example, is still at a nascent stage for digital advertising, as the distribution of advertising spending over the last years has shown. In 2019, television remained the main beneficiary of ad expenditures in Mexico, and although internet ad spending is forecast to increase over the next five years, recent data does not indicate speedy rearrangement of advertising budgets in the country. Nevertheless, digital formats are successfully pushing their way through the advertising landscapes of North America and the entire world, no matter the pace.