Canadian online ad revenue up in 2007

TORONTO, July 3 (UPI) -- Canadian online advertising revenue in 2007 grew 38 percent over 2006 to reach $1.2 billion, the Interactive Advertising Bureau of Canada said Thursday.

A release from the IABC in Toronto said the jump was more than four times the $237 million revenue in 2003.

About $260 million, or 21 percent of the total, was received by French Canadian online publishers, the report said.

By category, the biggest revenue generator was automotive, at 16 percent, followed by financial services at 11 percent and followed by general retail at 9 percent.

The group projected 2008 online ad revenues will climb 25 percent to $1.5 billion, which it said is quickly closing in on more established advertising mediums.

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