BIA Advisory Services helps traditional and digital media, brands & agencies and technology companies secure a winning position in the local advertising marketplace.
BIA Decreases 2022 Estimates for U.S. Local Advertising Revenue to $167.4B Indicating Headwinds for the Overall Local Advertising Marketplace
BIA Advisory Services has decreased its 2022 U.S. Local Advertising Forecast estimate to $167.4 billion, from its original estimate of $173.3 billion issued in December 2021. Headwinds from overseas conflicts, continuing supply chain issues and deep cuts in ad spending from large verticals like automotive precipitated the reduction. Positives for the ad market still include an anticipated strong political ad year, the expansion of online gambling local advertising and consumer spending on leisure and recreational activities. The updated local advertising forecast for 16 media and 96 sub-verticals is now available in the BIA ADVantage™ platform and local radio and television revenue has been updated in the MEDIA Access Pro™ database.
Insights from BIA’s Updated Outlook for 2022 Local Advertising
After a rigorous survey of media companies and an economic analysis in the first part of 2022, BIA has adjusted its overall expectations for U.S. local advertising revenue for 2022. The company now estimates $167.4 billion for the year, which is down $5.9 billion from the original estimate. However, BIA sees positives for ad revenue, with the overall spending increasing by over $14 billion from 2021. Positive ad drivers this year include political, several leisure categories, and online gambling.
Listen to this podcast to hear BIA’s Nicole Ovadia and Mark Fratrik share their outlooks on the economic factors that drove the changes, an overview of the changes, and top media channels and verticals in 2022. Listen now.
2022 Winning Local Media Sales: OTT
BIA and SalesFuel continue the Winning Local Media Sales Webinar series by analyzing the growth and opportunity in Over-the-Top (OTT). OTT continues to be the top growing media channel. This year, BIA estimates the advertising expenditures in OTT will reach just over $2 billion, a compound annual growth rate (CAGR) of 33.0%, from pre-pandemic levels in 2019.
View this webinar to get analysis on key opportunities and strategies for winning OTT revenue in local markets.
Transaction Update for Television and Radio (Year-to-Date):