“The local advertising marketplace has been significantly altered over the past five years with the growth of local advertising on Google, and to a lesser extent Facebook”, says Tom Buono, CEO of .BIA Advisory Services, adding: "However, we also realize the advantage traditional media has in local marketplaces and key decisions now around digital advertising will make all the difference to safeguard their share of the ad wallet.”
Google To Dominate Local Digital Ads In 2018
Local search advertising on Google and local advertising on YouTube will top $19 billion nationwide, according to BIA Advisory Services. Google will represent close to 40% of all local digital advertising across all markets. By 2022, BIA projects local Google advertising will exceed $27 billion nationwide.
BIA will discuss the dominance of Google in digital while examining the overall Baltimore-Washington advertising marketplace at LOCAL IMPACT DC on Thursday, May 10, at the National Association of Broadcasters headquarters in downtown Washington.
“The most rapidly growing media channel for local advertising is mobile, followed by desktop advertising”, said Mark Fratrik, chief economist and SVP, BIA Advisory Services. “As the market leaders in these local digital advertising, Facebook and Google advertising are projected to grow at healthy rates. By comparison, local radio and television advertising are projected to be relatively flat over time, while print media advertising continues its decline.”
According to BIA, local Google advertising in 2018 is higher than the total digital advertising revenue on any local media. When you add local Facebook advertising to local Google advertising they are estimated to account for almost 48% of all local digital advertising.
In fact, local Google advertising exceeds the total local advertising generated by all 11,044 commercial radio stations in the U.S. and rivals the amount generated by all 1,282 full power commercial television stations in the U.S., according to BIA. With the continued more rapid growth of digital advertising, BIA forecasts that by 2022 local Google advertising will almost double the over-the-air advertising of the entire radio industry.
“The local advertising marketplace has been significantly altered over the past five years with the growth of local advertising on Google, and to a lesser extent Facebook”, said Tom Buono, BIA CEO. “We’ve been tracking local advertising for over 30 years and have witnessed the decline of print advertising and now we see serious threats to local radio and TV. However, we also realize the advantage traditional media has in local marketplaces and key decisions now around digital advertising will make all the difference to safeguard their share of the ad wallet.”
BRAND CONNECTIONS
According to BIA, local Google advertising in 2018 is higher than the total digital advertising revenue on any local media. When you add local Facebook advertising to local Google advertising they are estimated to account for almost 48% of all local digital advertising.
In fact, local Google advertising exceeds the total local advertising generated by all 11,044 commercial radio stations in the U.S. and rivals the amount generated by all 1,282 full power commercial television stations in the U.S., according to BIA. With the continued more rapid growth of digital advertising, BIA forecasts that by 2022 local Google advertising will almost double the over-the-air advertising of the entire radio industry.
“The local advertising marketplace has been significantly altered over the past five years with the growth of local advertising on Google, and to a lesser extent Facebook”, said Tom Buono, CEO BIA Advisory Services. “We’ve been tracking local advertising for over 30 years and have witnessed the decline of print advertising and now we see serious threats to local radio and TV. However, we also realize the advantage traditional media has in local marketplaces and key decisions now around digital advertising will make all the difference to safeguard their share of the ad wallet.”
Comments (1)
catskills says:
May 7, 2018 at 12:56 pm
TV News Check should use a disclaimer that the press release was part of a paid event & not a University or 3 rd party statistics firm. They are printing with an Ah Ah moment style the import of one firm with it’s products & use of them foremost. So this is not fake news but the connection of the dots should be part of the story .as a disclaimer at least.
Otherwise its just a promo piece. The TV & Radio industry need to start yelling about this bending of ethics & fact sources etc. What’s your take !!