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…
LOCAL IMPACT New York conference on September 26 to examine advertising trends of the leading business verticals in New York, along with effects of digital competition and the opportunities of advanced TV
CHANTILLY, Va. (September 12, 2018) – Local advertising spending in New York City will exceed $11.5 billion in 2018, spread across TV, cable TV,direct mail, radio, mobile and 9 other media, according to research and consulting firm BIA Advisory Services. On Wednesday, September 26 BIA will bring experts from across the local advertising and marketing, publishing, broadcasting, and digital media fields to its annual LOCAL IMPACT New York conference at the AMA Conference Center in Midtown to examine New York’s local targeted ad marketplace and how data, trends and technologies are driving cross-platform media activation and consumer engagement.
The five leading vertical market categories in New York City are automotive, education, financial/insurance, general services, and government/political/religious and represent more than 30 percent of the ad revenue with total local market dollars going across traditional and online/digital media.
Of the 12 media tracked in the firm’s forecast, the primary vertical expenditures in New York for 2018 include:
By 2022, BIA estimates the market will grow to $12.98 billion and online and mobile will continue to increase their shares in the market, while categories like print newspapers and magazines will decrease.
“As the number one media market, New York demonstrates its diversity not only in the large ad spend it makes each year, but in the categories it comes from and the mediums it chooses,” said Mark Fratrik, senior vice president and chief economist at BIA Advisory Services. “The fluctuating media landscape offers new opportunities for emerging digital solutions to capture more revenue dollars, and for some traditional media to both maintain their positions and strengthen their value to advertisers with multi-media offerings that are growing, and efforts such as programmatic selling.”
LOCAL IMPACT New York
BIA will present its New York and nationwide market intelligence at its LOCAL IMPACT New York program on Wednesday, September 26 from 11:45am – 5:30pm at the AMA Executive Conference Center, 1601 Broadway, 8th Floor, NYC.
A signature session of the half-day program is Growing Share of Wallet in 2019, which will offer a thorough examination of where ad dollars are being spent across top media in local New York markets and where they will migrate over the next five years. Speakers joining this session include John Hane, President, The Spectrum Consortium (Spectrum Co) and Travis Rothstein, CEO/Founder, ConnecTheDot.
The increase in Geotargeted Ad Fraud, which BIA estimates is almost a $3 billion risk on a yearly basis, will explore the different kinds of fraud and potential remedies both media and their clients can pursue. This session will be lead by Dr. Augustine Fou, Cybersecurity and Ad Fraud Researcher, Marketing Science Consulting Group.
Details and registration for LOCAL IMPACT NY can be found here.
About BIA Forecasts
About BIA Advisory Services
BIA Advisory Services is the leading authority for data-centered research, analysis, strategic consulting and valuation services for the local media industry. Since 1983, BIA has been a valuable resource for traditional and digital media companies, brands and agencies, the financial and legal community serving media and telecom, as well as the FCC and other government agencies. Today, we offer comprehensive local market advertising intelligence in our BIA ADVantage data platform to help clients discover the path to their best opportunities. Learn more about our offerings and our regional event series, LOCAL IMPACT, at http://www.bia.com.