Its projection drops 5% to $18.5 billion, saying political, OTT and digital advertising will slightly balance the negative effect of the pandemic on local advertising.
BIA today revised its local advertising forecast. “In the U.S., the economic impact could evolve in a few different ways. We could see a relatively quick rebound beginning once the health impact is more quantified, a slower rebound over a longer period or a decline into a recession. Given the significant steps taken by government officials and agencies to minimize the spread of the virus and what has happened in other countries, we believe we are looking at a two to three-month period to stabilize the epidemic.”
In addition to advanced TV, the forecast examines growth across TV OTA, TV online, OTT, retrans and non-broadcasting.
BIA Advisory Services has expanded its forecasts to include local over-the-top (OTT) advertising. The firm presented at TVB Forward 2019 in New York City and estimates that 2019 will generate $857 million in OTT revenue, increasing nearly 148% to $2.13 billion by 2024. “OTT offers a considerable opportunity for broadcasters to grow revenue,” said Tom Buono, founder and […]