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All local TV sinking 15% to $18.5 billion in 2023; Core TV Ad, up 3%. https://ift.tt/dX4gcsH With an expected lower advertising from political marketers in 2023, all local TV-related advertising -- including linear, over-the-top and digital --- is projected to decline 15% to $18.5 billion, according to BIA Advisory Services. Taking out political advertising comparisons out of the picture -- where estimates have been that $3.5 billion to $4.0 billion has been spent by political marketers on local TV in 2022 -- BIA says non-political advertising for all of linear, OTT, and digital is expected to grow 3% to $18.2 billion. Local radio, sans political, looks to be the same in 2023 as in 2022 -- $13.5 billion. Looking at all U.S. local advertising, BIA estimates the market will be essentially flat -- down 0.5% to $165.7 billion in 2023, from an estimated $166.5 billion in 2022. Taking political ads out yields an improved overall picture of 4.8%. Next years’ forecast continues to show the growing strength of local digital media -- now at a 49% share of overall advertising spend -- $81 billion. Traditional media ad revenue is 51% share -- $84 billion. The top three paid local media channels: Direct mail direct mail -- $37.2 billion; mobile -- $33.5 billion; and Expected rising local TV ad categories -- education marketers, up 9.7%; retail, adding 8.7%; and restaurants, growing 7.5%. BIA results come from a forecast of 16 media and 96 sub-verticals media categories. advertisement advertisement Mobile Marketing via MediaPost.com: mobile https://ift.tt/629YrB4 November 30, 2022 at 04:03AM
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April 2023
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