Brazil dominates Latin American online ad spending and will see strong growth this year.
BY LBC STAFF
Online ad spending in Brazil is expected to grow by 19.3 percent from last year, according to estimates from UK-based ad agency ZenithOptimedia.
While Brazil is the top online ad market in Latin America, it is not the only one seeing strong growth. Also Argentina, Chile, Colombia and Peru are seeing double-digit online ad growth.
Internet ad spending in Latin America is expected to reach $933 million this year, an increase of 14.6 percent, according to PricewaterhouseCoopers.
Despite the growth, the potential for even higher increases are there, according to experts. “Today internet advertising represents between 2.5 and 3.5 percent of the total advertising spending in advertising in Latin America, despite it reaching about 30 percent of all consumers in the region,” points out Julian Porras, CEO for Latin America for US-based Omnicom Media Group. “Some markets as in the case of Brazil or Argentina have a greater degree of spend as Internet connectivity and access grows throughout the region.”
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Keywords: Argentina, Brazil,Chile, Colombia, Mexico, Venezuela
TABLE: Online Ad Spending 2009-11 in Latin America