Latin America online advertising spending will grow at an annual rate of 14.1%, reaching US$2.2bn in 2015 - nearly double 2010 levels at US$1.2bn - according to PricewaterhouseCoopers' (PwC) annual global entertainment and media outlook 2011-15 report, published by Argentine media outlet La Nación.
The study provides forecast data across 13 industry segments in 48 countries worldwide, including Argentina, Brazil, Chile, Colombia, Mexico and Venezuela.
Brazil is the biggest market in the region in terms of online investment, billing US$766mn in 2010, followed by Mexico (US$159mn) and Colombia (US$101mn).
Broadband and smartphone penetration are the main drivers of online advertising, the report said. The 2015 forecast predicts that the number of homes with internet access will reach 73.9mn in Latin America, according to international consultancy Wilkofsky Gruen Associates.
The study covers advertising in mobile and fix internet, including the spending on paid search advertisements, display, classifieds and online videos, as well as ads on handsets and other mobile devices.