Borrell: Local Advertising To Remain Virtually Flat In 2023

Borrell is projecting that local advertising will hit $120.7 billion this year and reach $121.5 billion in 2023, representing 0.6% growth. Digital forms of ad spending are forecast to grow 5.2% next year, while traditional forms of print, broadcast, outdoor and cable are collectively forecast to drop 6.5%. Broadcast TV will suffer the largest drop, declining by double digits.