Canadian online advertising revenues for 2010 are grew 23 per cent from 2009, hitting $2.23-billion — and beating out newspaper ad revenue.

Canadian online advertising revenues for 2010 are grew 23 per cent from 2009, hitting $2.23-billion — and beating out newspaper ad revenue. Online revenue is now second only to TV when it comes to the overall share of Canadian media advertising revenue, according to the Interactive Advertising Bureau of Canada (IAB), which recently released last year's results.

Surpassing the $2 billion dollar mark for Online ad revenues and moving into second place in terms of overall ad spend in Canada — is without a doubt — a watershed moment for the Digital community in Canada," said Paula Gignac, president of IAB Canada in a release.

Researchers at the IAB estimate online revenues will continue to grow, and could hit $2.6 billion by the end of 2011 — 16 per cent more than last year's revenue.

[node:ad]