48.1% of Canadian digital media agencies projecting significant increases in revenue; report also finds hiring and new business projections bullish for 2011
– FOR IMMEDIATE RELEASE –
Toronto, ON – Today, Justin Kozuch, 2010 Mesh Prize winner and lead researcher for the Pixel to Product research study, released the first yearly report on the state of the Canadian digital media economy.
“The state of the Canadian digital media economy is strong”, said Kozuch. “Digital agencies in Canada are projecting between 10% and 24% growth in revenue when compared to their revenue generation efforts in 2010. When you compare this data against the 68.1% of reporting agencies who indicated they have a labour force size between one and 10 employees, this is incredible growth and is a good indicator of the strength of our economy.”
The Pixel to Product report also found:
- The average salary of a Canadian digital media professional ranges between $40,000 and $59,999,
- 73.4% of digital media agencies are increasing the size of their labour force in 2011; skills in mobile application development, social media marketing and community management are in high demand,
- 35.5% of women indicated they saw a 10% to 24% increase in salary from 2010 to 2011, compared to 26.3% for men,
- Women earned a higher number of salary increases than men in the 1-4%, 11-15%, and 16-20% range.
“This research is an important first step in understanding the size and scope of the Canadian digital media industry. As we continue this research on a year-over-year basis, we’ll be able to better plot the growth of our industry and how technology changes its business behaviors and perceptions. It is our hope that this research sparks a local and national dialogue on how to better understand who we are, what we do and the impact of the digital media industry on the Canadian economy as a whole.”