Tag: U.S. local advertising revenue

Industry News

BIA Advisory: Local Ad Revenue to Rise 6.1% in 2025

By TALKERS | by TALKERS

BIA Advisory Services is estimating that U.S. local advertising revenue in 2025 will reach $171 billion, excluding political spending, an increase of 6.1% over 2024. BIA vice president of forecasting and analysisimg Nicole Ovadia says, “Our latest forecast indicates that local advertising is showing resilience, despite the ongoing changes in the economic landscape. Although we expect core advertising to remain stable, we’ve adjusted our outlook to account for various market factors like interest rates and consumer sentiment and significant changes in media consumption patterns that are driving digital growth.” The forecast indicates strong growth in several sectors: Real Estate at 9.3%, Restaurants at 9.2%, and Retail at 6.8%. The Education and Automotive verticals are also experiencing substantial growth, with increases of 5% each.

Industry News

BIA Advisory: U.S. Local Ad Revenue Estimate Lowered

By TALKERS | by TALKERS

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Due to “a mixed start in the economy this year and the tempered growth in digital advertising,” BIA Advisory Services is lowering its estimated U.S. local advertising revenue for 2023 to $161.7 billion – down from its original estimate of $165.7 billion. The company says that after looking at the first six months of the year, it decided the reduction was necessary. Vice president of forecasting and analysis Nicole Ovadia says, “After years of double-digit growth, we are seeing some headwinds that will have a significant impact on digital local advertising.” BIA is now expecting digital media revenue for 2023 to be $78 billion (down from its earlier estimate of $81 billion). Radio digital revenue – ex political – is expected to rise by 4.1% over 2022. “When examining the top spending sub-verticals, BIA advises that later in the year, growth is expected in Auto, and the company is raising expectations for Tier 3 – New Car Dealers, and Automotive Repair Services. Other important verticals for local advertising where BIA is raising expectations include Savings/Credit Institutions and Other Loan Services, Plumbers and HVAC, and Realtors.”