Canadian online ad revenues grew by 29% to just over $1.6 billion in 2008, according to the Interactive Advertising Bureau of Canada (IAB). Publisher revenue from online advertising in Canada has more than quadrupled over the past five years: building from $364 million in 2004. Online revenues now surpass radio revenues, which were $1.55 billion last year. Online advertising now occupies third spot in terms of both time spent by consumers with media, as well as marketing spend by advertisers. About $14 billion is spent on all major media in Canada (TV, newspapers, internet, radio, magazines and out-of-home). Search advertising continues to lead in terms of share of dollars booked by online publishers ($602 million/38%), followed by display ($490 million/31%) and classifieds ($480 million/30%). Online video advertising grew from $9 million in 2007 to $12 million in 2008, while Email advertising stayed stable at $18 million. Publishers within IAB's annual revenue survey project their revenues will continue to grow to $1.75 billion in 2009, a 9.2% year-over-year increase. “Even in the face of uncertain economic conditions and continued pressure on total advertising budgets, clearly, online advertising has cemented itself as a mainstay in the overall media buy,” says Paula Gignac, IAB president. “And although 2009 has presented substantial challenges to the entire Canadian marketing community, we're confident that online advertising will continue to grow at the projected pace, for the simple reason that as the Internet continues to engage and delight consumers, it matches these accomplishments with a persistent ability to deliver measurable advertiser results.” Click here to read the complete report.