Advertising Agencies in Canada - Industry Market Research Report

New promotion: Forecasting consumer behaviour and targeting specific demographics are contingent upon access to consumer data, which will likely shape the industry

Advertising agencies creates and disseminates advertising campaigns through channels such as radio, print and digital platforms. Over the five years to 2023, the industry has benefited from the growth of digital media, encouraging investment in online ads. Over time, target audiences have become much more fragmented, forcing companies to get creative, and paving the way for small niche firms to emerge. When consumer spending expanded during the period, businesses have invested in advertising to develop brand awareness and maintain a competitive advantage. A major disruption has been the COVID-19 pandemic, which contributed to a fall in revenue in 2020 as downstream demand contracted. Robust economic expansion during the following years bolstered industry performance, though inflation-adjusted growth has been poor due to continuing inflationary trends. Revenue has been declining an annualized 0.7% to $4.5 billion over the past five years, with industry revenue expected to remain flat over the current year as inflation and spending declines take effect.

Advertising agencies create advertising campaigns and place such advertising in periodicals and newspapers, on radio and TV or other media. Through in-house capabilities or subcontracting, advertising agencies provide a full range of services, including advice, creative services, account management, media planning and buying and production of advertising material.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.