BIA Advisory Services helps traditional and digital media, brands & agencies and technology companies secure a winning position in the local advertising marketplace.
Bolstered by a Political Year and the Economy, BIA Forecasts Local Broadcast TV Ad Revenues to Increase By 26.5 Percent in 2022
BIA Advisory Services estimates the local broadcast TV industry in 2022 will generate $21 billion in advertising revenue, with $19.3 billion in over-the-air (OTA) revenue and $1.7 billion in digital. This estimate indicates an increase of 26.5 percent over 2021 for the industry. Previewing the new forecast today in an address before the TVB Forward Conference, Tom Buono, founder and chief executive officer of BIA Advisory Services, explained drivers behind the forecast that include a long and significant political advertising season, growth in TV’s digital advertising opportunities, and positive economic signs for key verticals.
Looking Ahead into the Local OTT/CTV Marketplace
More than a quarter (28%) of total TV viewing time in August 2021 was to OTT/CTV beating out broadcast TV (24%) according to Nielsen. The consensus is that pandemic-induced media changes including more OTT/CTV viewing and subscriptions largely are here to stay. The local market for OTT/CTV includes offers by the major TV groups focused on news and sports and aggregating local OTT impressions to create a more efficient marketplace for local and regional buyers.
Leading Local Insights Podcast Episode 23: Targeting Local Viewers in OTT
In this podcast, BIA’s Managing Director, Rick Ducey, talks with Brian Hunt who is the Head of CompulseOTT and Sinclair OTT/CTV. They discuss how to navigate the OTT opportunity and solutions that are simplifying how to successfully target local viewers in OTT.
Transaction Update for Television and Radio (Year-to-Date):