For the third straight year in a row, online advertising expenditures has grown. Last year, according to a report by the IAB Mexico, the industry grew almost 40% to reach approximately $370M/year. According to eMarketer, this year the spending could be over $450M.
The IAB México study found that online ad spending from companies in the automotive industry in Mexico expanded 101% in 2011. Other industries with remarkable increases in online ad investments were media and entertainment (172%), public services and government (105%), and financial services (84%).
According to the same report, display (60%) remained the most popular format in 2011, despite a marginal reduction in market share when compared with the previous year. Search (28%) was up four percentage points, at the expense of classifieds, which dropped from 15% in 2010 to 12% in 2011. The survey also found that 66% of ads in 2011 were bought through agencies, up from 61% in 2010.
The sharp improvement in online advertising revenues in 2011, as well as the increasing interest in more sophisticated online advertising tools, confirms the substantial and growing importance of digital media to industry marketers in Mexico.
Companies like Microsoft and Google still significantly dominate the market, but with the amount of users in Mexico going online growing, and credit cards become more and more common, the opportunities to monetize consumers from Mexico is growing exponentially.