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. (Sept. 22, 2014) – In its new U.S. Local Media Forecast 2015, BIA/Kelsey forecasts total local media revenues to reach $139.3 billion in 2015, up from $137 billion this year, representing a growth rate of 1.6 percent. BIA/Kelsey is presenting highlights from the forecast today at its LEADING IN LOCAL: SMB Digital Marketing conference, which is taking place through Wednesday, in New Orleans.
Online/digital will account for more than one-quarter (25.2 percent) of total local media revenues in 2015. Revenues for online/digital are expected to grow from $31 billion in 2014 to $35 billion in 2015, representing a 13.1 percent growth rate.
Mobile local and local social are among the categories within the online/digital segment that are seeing strong growth. Forecasts for several online/digital categories include:
“We expect the pace of growth in the overall local advertising marketplace to moderate through 2019, resulting in a three percent compound annual growth rate,” said Mark Fratrik, chief economist, BIA/Kelsey. “Growth in online/digital advertising revenues will remain strong, with a 12.2 percent CAGR through 2019, compared with essentially flat revenues for traditional advertising (-0.5 percent CAGR) during the same period.”
BIA/Kelsey defines the local media advertising marketplace as those media that provide local audiences to all types of advertisers.
Beginning with this 2015 forecast, BIA/Kelsey has moved the timing of its annual forecast from the spring to the fall to align with the annual strategic planning season of its clients. The forecast draws from proprietary data; company, industry and country information in the public domain; and discussions with clients and non-clients about the direction and pace of development in the local media marketplace.
The 2015 forecast, which is delivered to clients of BIA/Kelsey’s advisory services, includes breakouts for mobile, social, interactive/online and video. BIA/Kelsey custom advisory service clients can log into the client resource center to download the forecast.
A “Full Edition” of the forecast will also be published, offering a 360-degree view of the market for all spending on local advertising, covering 12 media segments: newspapers, radio, over-the-air TV, cable TV, out-of-home, direct mail, directories, magazines, online, mobile and social. For information on becoming an advisory services client, or to order a copy of the U.S. Local Media Forecast 2015 or the Full Edition forecast report, email email@example.com.
BIA/Kelsey advises companies in the local media space through consulting and valuation services, research and forecasts, Custom Advisory Services and conferences. Since 1983 BIA/Kelsey has been a resource to the media, mobile advertising, telecommunications, Yellow Pages and electronic directory markets, as well as to government agencies, law firms and investment companies looking to understand trends and revenue drivers. BIA/Kelsey’s annual conferences draw executives from across industries seeking expert guidance on how companies are finding innovative ways to grow. Additional information is available at http://www.biakelsey.com, on the company’s Local Media Watch blog, Twitter (http://twitter.com/BIAKelsey) and Facebook (http://www.facebook.com/biakelsey). Stay connected by subscribing to the firm’s bi-monthly newsletter.