Its 2021 forecast is that local businesses will spend $127.3 billion, up 7.3% from the $118.7 billion spent in 2020. The bad news is, the 2021 increase isn’t enough to wipe out all the losses felt in 2020. The advertising marketplace won’t fully recover — that is, grow larger than it was in 2019 — until 2022.
A new Borrell report Gauging Facebook’s Impact on Local Advertising, estimates that by year’s end, the social media giant will be capturing as much as 10% of all local ad dollars in the U.S., more than the newspaper, TV or radio industries. Attendees of TVNewsCheck’s “Optimize, Monetize Your Facebook Strategy” webinar on June 13 will receive a free copy of the $995 report.
A new forecast from Borrell Associates suggests 2013 will be a big year for local online advertising. The firm projects revenue will surge almost 31% this year — from $18.7 billion to $24.5 billion as more small and medium-size businesses shift ad spending to digital from traditional mdia.
Borrell Associates executive VP Kip Cassino predicts that by 2015, 26% of all local ad dollars will be spent online, pushing digital local ad revenue past traditional media for the first time.