Mobile ad revenue in Canada topped $2.7 million in 2007, up from $1.1 million in ’06, according to the first-ever mobile advertising report from the Interactive Advertising Bureau of Canada. The report estimates 2008 mobile ad revenues at $5.2 million.

The IAB of Canada found that standard SMS ads accounted for 75% of mobile ad revenue in 2007, up from 72% in the prior year. The other 25% came from mobile content (8%), mobile advertising (5%), mobile apps (5%), premium SMS (3%) and “other” (4%).

As of the end of 2007, ad revenue from mobile search in Canada was virtually non-existent.