BIA Revises its U.S. Local Ad Forecast – Expects Revenues from Traditional and Digital to Hit $142B

BIA Advisory Services has revised its 2021 forecasts for U.S. Local Advertising Revenues to $142.4 billion, up $4.8 billion from its November 2020 estimates. The projection is split between traditional and digital media but shows that the divide is narrowing, with traditional advertising only eight percent ahead of digital mediums that include mobile, online, over-the-top, email, and traditional media’s online ventures.

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Leading Local Insights Podcast Episode 15: Consumer Media Consumption’s Effect on Adverting Expectations

In July, BIA released a new advertising forecast for 16 media and 95 business categories. The updated forecast for 2021 takes into consideration the improving economy and the changing trends in how consumers are consuming media that accelerated during the pandemic.

In this podcast, BIA’s Chief Economist and SVP, Mark Fratrik explains the different impacts on ad revenue expectations for different media like direct mail and television and what he sees as potential growth opportunities for the rest of the year.

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Radio Revenues Fell to $9.7B in 2020, As Pandemic’s Toll on the Industry Affected Local Radio Stations

As anticipated, the radio industry took a very big hit in 2020 due to the pandemic and subsequent cutbacks in overall spending activity. According to the first quarter edition of BIA Advisory Services’ 2021 Investing In Radio® Market Report over-the-air advertising revenues dropped to $9.7 billion, a -23.6 percent decline from $12.8 billion in 2019. Digital ad revenues at stations demonstrated their continued strength, though, posting only a slight decline to $939 million in revenues in 2020 versus $1 billion in 2019.  

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BIA Advisory Services and SalesFuel Launch Digital Series Focused on Examining Key Business Verticals

Of the $137.5 billion BIA Advisory Services estimates for total local advertising spending this year, an estimated $61.5 billion (or 44.7 percent) will come from digital media. The continued growth and opportunities in digital will be the focus of a Local Digital Event Series co-produced monthly by BIA and SalesFuel.

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