Guideline, formerly Standard Media Index (SMI), reports that results of the first two months of the year show that 2024 is off to a good start. Overall, ad spending has increased 8% versus January and February 2023. This is a promising result since, according to Guideline, Canada’s advertising spend in 2023 across all media types remained flat year-over-year,

The January to February 2024 growth is fueled by all media, including strong traditional media results. Out-of-home is leading the pack with a rise of 15% over the previous year. Linear television follows with an 11% YoY increase and radio clocks in at 8% growth YoY.

Darrick Li, Guideline’s VP client partner North America, says, “Looking at only January data, there are some data points that were certainly surprising to me, but it may not be representative of the long-term, that being linear TV up 3% year-over-year. We are probably seeing the positive effects coming from resumption of the production of new episodes. The advertising demand and attraction is flowing through to the media companies delivering that type of studio producing content. The other surprising thing was digital was down 1%”

Now with both January and February results, digital is up 7% YoY. Within digital, ad spending was fueled by spending on social platforms, which are up 23% YoY. Other digital media include audio ad types with a whopping 54% YoY increase and short-form online video showing 10% YoY growth. The highlight of the findings is long-form premium OTT video delivered via connected TV that jumped 30% over the same period last year.

CPG and technology were among the leading categories increasing their ad spending with verticals like laundry and dishwashing. Air fresheners and cleaning products tripled their ad spending over last year and verticals like hair care, disposable paper and plastic goods, and beer and ale doubled their ad spending year-over-year.

Guideline, owner of Standard Media Index, Lumina and SQAD, captures actual agency invoicing data from major holding companies and independents.