Canadian ad investment is beginning to level off

However, new data from SMI shows that some platforms are still seeing strong momentum through April.

Cross-media ad investment was relatively flat in April compared to year prior, shrinking by 1%.

That’s based on new data from Standard Media Index, which pulls its figures from media agencies that are part of its Canadian data pool. The April data comes after media investment was 9% through the first quarter of 2022.

Spending in digital, which has been a major driver of overall media spending over the last two years, has similarly slowed down, growing by 2% year-over-year in April.

Within that, however, spending was up by a massive 40% year-over-year in digital offerings from TV networks. Spending was also up by an impressive 19% in video and 10% in search, content and social media.

Digital had a 55% share of cross-media spending in April, followed by linear TV at 37%. Spending on linear TV was down 4% compared to last year, primarily driven by a 6% dip in conventional TV (specialty spending was flat compared to last year).

Search had a 17% share of spending, followed by social media at 16%.

Another major area of spending growth was out-of-home, where spending grew 41% year-over-year in April, driven by easing of pandemic health restrictions resulting in people returning to the office and traveling more. Investment in radio and print, however, shrank.

CPG was the top-spending advertiser category group in April with a 22% share, despite investment shrinking by 7%. That decline was largely due to a big 35% drop in spending by alcoholic beverages and 52% drop in household supplies. On the flip side, though, spending among non-alcoholic beverages was up 20%, with personal care up 28%.

Automotive was the second-largest spender in April despite a 26% drop in spending. It had 15% share, though that is a five-point decline.

Growth did come among financial services brands, the third-largest spender, up 11% year-over-year and holding a 13% share of spending.