Canadian Market Sizing for Influencer Marketing
Determine or estimate the market size for influencer marketing industry in Canada, as well as projected growth rate.
While there was not exact data on the size of the total influencer marketing market in Canada, we were able to find the following related data.
- Revenue from social media ads in Canada were projected to grow from 282 million USD in 2015 to 508 million USD in 2021.
- One survey found that nearly 20% of enterprise companies in Canada have a budget between $1 million and $2.9 million for influencer and social media marketing campaigns.
- 75% of all companies surveyed in Canada have dedicated budgets for influencer marketing.
- Around 35% of Canadians between ages 18 and 35 said they have made a purchase related to an influencer endorsement.
- However, new regulations in Canada may impinge upon growth in the influencer marketing space in the future.
- The Canadian Competition Bureau recently have increased regulation around influencer marketing, specifically aimed to hold companies accountable for false representation.
- Formal letters were sent to large brands and advertising agencies in late 2019 that encouraged reviewing market practices to ensure legal compliances around social media marketing.
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