Canadians are replacing TV, radio with the web

CRTC released a new study, and it shows Canadians are spending less time with traditional media (radio and tv) and are replacing it with the web.

“It’s not as if TV is disappearing, it’s just that the Internet is really consuming it,”
Adam Finkelstein of Montreal’s McGill University

What is particularly interesting is how advertising dollars are still flowing (rising) for TV and radio despite dwindling usage. Having said that, while TV and radio are seeing a slight rise in annual revenues, Canadian online ad dollars hit $1 billion for 2006 which is almost double the $562 million spent on the web in 2005. Considering the online ad market in Canada is growing at approx. 35% per quarter, there can be no denying that the internet is ‘the’ growth medium in the media foodchain right now.