BIA Ups Local Political Ad Forecast To $7.1B
BIA Advisory Services has raised its Local Political Advertising Forecast to $7.1 billion in 2020 from an earlier estimate of $6.6 billion this past fall. Of the $500 million increase, an additional $197 million will be spent in online/digital and $171 million on TV OTA (now estimated at $3.3 billion). Estimated spending for radio OTA local political advertising is $337.3 million.
BIA said the revised forecast is not affected by Michael Bloomberg’s withdrawal from the race Wednesday.
“Our updated forecast reflects the increased spending in the various Presidential primary states. Yet, it is important to remember that a large majority of the total political spending is targeted to the strongly contested gubernatorial, senatorial races, and other local races,” said Mark Fratrik, BIA Advisory Service SVP and chief economist.
“This year we can anticipate that candidates will take their messages local by advertising terrestrially and digitally to voters across the country. The four-year-cycle of increased political year advertising will benefit all segments of the entire local advertising market,” Fratrik added.