Automotive and financial services lead in online ad spending by industry in Mexico
In 2011, online ad spending growth in Mexico exceeded 30% for the third year in a row, according to the May 2012 Interactive Advertising Bureau México (IAB México) report “Estudio de Inversión Publicitaria Online en México—Resultados de 2011,” expanding 36% last year to reach MXN4.6 billion ($370 million).
eMarketer estimates that online ad spending in Mexico will exceed $450 million this year. And while growth rates are expected to slow down as the market in Mexico matures, robust double-digit growth through the forecast period is still predicted.
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.
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Check out today’s other articles, “Smartphone Growth Paves Way for Mobile Video Explosion” and “Social Is the New Normal for Travel Marketers.”