BIA Estimates Local Broadcast TV Ad Revenues to Top $23.8 Billion in 2024, Bolstered by Political and Increased Auto and Legal Ad Spending
BIA CEO Addresses Television’s Share of the Local Advertising Marketplace for Key Ad Spending Verticals…
Chantilly, VA – March 5, 2020 – BIA Advisory Services has raised its Local Political Advertising Forecast to $7.1 billion in 2020 from an earlier estimate of $6.6 billion this past fall. Of the $500 million increase, an additional $197 million will be spent in online/digital and $171 million on TV OTA (now estimated at $3.3 billion). Estimated spending for radio OTA local political advertising is $337.3 million.
“Our updated forecast reflects the increased spending in the various Presidential primary states. Yet, it is important to remember that a large majority of the total political spending is targeted to the strongly contested gubernatorial, senatorial races, and other local races,” said Mark Fratrik, SVP and Chief Economist, BIA Advisory Services.
Fratrik continued, “This year we can anticipate that candidates will take their messages local by advertising terrestrially and digitally to voters across the country. The four-year-cycle of increased political year advertising will benefit all segments of the entire local advertising market.”
BIA’s Local Political 2020 Forecast provides the political spend by different media for all 210 US television markets.
*Note – The revised forecast is not affected by Michael Bloomberg’s withdrawal from the race.
Accessing the Political Forecast