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 DC event on May 10 will examine nationwide and local advertising spending, media trends, digital, and advertising technologies
CHANTILLY, Va. (April 12, 2018) Local advertising spending in the Baltimore-Washington metro area will reach $7.9 billion in 2018 across markets in D.C, Maryland, and Virginia, according to BIA Advisory Services’ 2018 U.S. Local Advertising Forecast. The top six vertical market categories, which include retail, financial/insurance services, general professional services, automotive, restaurants and wireless telecommunications carriers (except satellite), represent more than 73 percent of the ad revenue, with total local spending going across traditional and online/digital media. BIA will present the firm’s local and nationwide advertising intelligence at LOCAL IMPACT DC on Thursday, May 10 at the National Association of Broadcasters (NAB) Headquarters in downtown D.C.
“The vibrant ad market and diverse population in the Baltimore-Washington corridor is reinforced by prominent vertical advertisers that are willing to spend money across multiple channels to reach their target audiences,” said Mark Fratrik, chief economist and SVP, BIA Advisory Services.
“Over the last five years, we’ve projected the rise of mobile and online as more mature technologies, such as those that deliver on-the-spot advertising, become available. Advertisers still remain committed to broadcast and traditional print partly perhaps because these channels remain consistent in their ability to connect with local consumers and synchronize quite well with digital advertising efforts,” Fratrik explained.
The top spending categories in media for the Baltimore-DC market reflect the national advertising buying trends. Direct mail, local TV, and mobile are projected by BIA to reach $151.2 billion in the U.S. this year.
BIA’s Baltimore-Washington forecast estimates that more than $5.7 billion will be spent between the top five media in the region:
Fastest Growing Vertical in Baltimore-Washington
The firm’s forecast shows that in the states of Maryland and Virginia the wireless telecommunications carrier vertical market (minus satellite providers) is projected to grow by nearly 22 percent through 2022, with that business category putting their ad spend primarily in digital channels:
About LOCAL IMPACT DC
BIA will examine the Baltimore-Washington region and the whole $150+ billion locally targeted advertising marketplace at its LOCAL IMPACT DC event on Thursday, May 10 at the headquarters of the National Association of Broadcasters (NAB) headquarters in D.C. The half-day program will focus on local advertising, where ad dollars are being spent across top media in the metro area and where they will migrate over the next five years. Key topics throughout the agenda include digital ad spend, advertising intentions (findings from a small and medium-sized business (SMB) advertiser survey), ATSC 3.0, programmatic and the forecast for political ad spending.
Speakers at LOCAL IMPACT DC include:
Details and registration 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 combined with analyst insights, actionable strategies and business financial assessments to help clients discover their best opportunities. Learn more about our offerings and our regional event series, LOCAL IMPACT, at our website http://www.bia.com.