This TVNewsCheck Working Lunch Webinar will gather leaders from the spot TV buying and selling community to talk about how the spot TV market is shaping up for 2021. TVNewsCheck in early October forecast a 7.4% increase for core spot TV advertising in 2021, up from a pandemic-influenced 18% decline in 2020. BIA Advisory Services […]
OTT and connected TV are expected to be game changers for the broadcast industry starting in 2021.
It drops the number for 2020 by 2.7% to $140 billion due to continuing coronavirus impacts. Political and other key verticals offer some opportunities for 4Q revenue generation.
The coronavirus is the cause of the company’s predicting a 10.6% decline nationwide across all U.S. local advertising from its original 2020 forecast.
Of the $500 million increase, an additional $197 million will be spent in online/digital and $171 million on broadcast TV.
Political and over-the-top advertising, plus growth in mobile and social ads will be key elements in local media next year.
Over-the-air television will earn the majority of the ad spend (47%) at $3.08 billion. Online/digital outlets will receive $1.37 billion (21%), while $919 million (14%) will be spent on multichannel video programming distributors (MVPDs) and just over $312 million (4.8%) will go to radio. The balance will go to other media.
Local TV advertising is expected to drop 10.6% in 2019, a non-election year, according to a new forecast by BIA Advisory Services, which sees overall local advertising growing slightly more than in its previous reports.
According to a new BIA vertical report, local advertising for quick serve restaurants is expected to hit $4 billion this year, with high use of direct mail and the embrace of mobile targeting.
Speaking yesterday on day one of the Department of Justice’s two-day workshop on the local advertising market, BIA Managing Director Rick Ducey said digital media are the fastest growing sector of the market. Digital, he said, will get 40% of the local auto spend this year and nearly 50% by 2023. DOJ is holding the workshop as it reconsiders its policy of blocking duopolies comprising network affiliates in light of changes in the ad market.
Auto dealers, local dealer associations and manufacturer ad spending account for 76% of total advertising for the auto vertical.
In 2019, local advertisers don’t plan on increasing their budgets. Mobile and social advertising are the two areas where advertisers indicate a willingness to increase ad spend in 2019.
For businesses with 500 or more employees, this spending averages $4.48 million for advertising and $2.18 million on promotions, according to a new survey from BIA Advisory Services.