North America comprises three large economies: Canada, Mexico, and the United States. The
, however, heavily relies on the U.S. In 2024, its share in North American ad revenues exceeded 90 percent, both for on and offline channels. Canada followed with around five percent, while Mexico remained in third place. The U.S. and Canada alone attracted more than four out of every 10 U.S.
in 2024, surpassing all other global regions. That expansion seems far from reaching a ceiling, as the
was forecast to continuously rise as the decade unfolds, exceeding 480 billion dollars by 2025 and then 580 billion dollars by 2029.
The U.S. ad industry: trouble in paradise?
A leading position also comes with challenges. The world's highest-spending ad market saw its online ad revenues record an unprecedented single-digit growth rate in 2023. Therefore, at a slower pace than niche channels such as cinema and business-to-business (B2B) marketing. Still, the internet was projected to resume expanding at double-digit growth rates throughout the rest of the 2020s, and declining media like TV managed to remain relevant thanks to a still unchallenged reach in the
American ad market. Meanwhile, social media emerged as an online channel more likely to engage audiences in the U.S.
Canada: a digital ad heavy hitter
In the northernmost country in the Americas, the internet alone accounted for about three-quarters of the ad expenditure as of 2024. The
Canadian ad industry is highly digitized, which came in handy after the pandemic: In 2021, ad revenues grew by nearly 15 percent, more than compensating for the previous year's losses. According to the latest available data, search is the most relevant online channel in Canada's mediascape, as its ad spending amounted to nearly as much as all other digital media combined. For comparison, socials ranked second with barely more than half of the search's ad revenues that year.
Mexico: potential for online advertising
Comparatively more reliant on traditional media, the
Mexican ad market skyrocketed by nearly 19 percent in 2022 when its revenues surpassed 120 billion Mexican pesos. That same year, offline channels accounted for around 40 percent of total ad revenues, but that share will likely decline further during the rest of the decade. Over two-thirds of advertisers in Mexico expected investments in social media advertising to rise in 2024. Cinema, out-of-home (OOH) – two channels still recovering from lockdowns' impacts on consumer behavior – email marketing, video streaming, and programmatic ad purchase platforms followed, all mentioned by more than half of the respondents.
The future of advertising in North America
In the long run, according to forecasts, influencer and search will be
North America's fastest-growing ad channels, experiencing double-digit increase rates in 2024 and 2025. Both formats were projected to expand roughly twice as much as all ad revenues combined. Among the traditional media, outdoor advertising was expected to increase faster than other offline competitors. Between 2024 and 2029,
North America's OOH ad spending will grow by an estimated 25 percent, exceeding 13 billion dollars in the latter year. The outlooks indicate that brands in the region look forward to surrounding consumers at home and outdoors, stressing their presence on screens and billboards alike.
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