BIA Advisory Services helps traditional and digital media, brands & agencies and technology companies secure a winning position in the local advertising marketplace.
BIA Estimates OTT Local Advertising to Exceed $2B in 2022; Sharp Increase in Spending Makes It Fastest Growing Local Advertising Platform
A new research report from BIA Advisory Services reveals that over-the-top (OTT) is one of the fastest growing channels for local media and increased at a rate of 43 percent compound annual growth from 2020 to 2022. Sponsored by Vevo, the report, OTT – The Rising Star in Local Ad Spending: Regional and Business Vertical Trends, shows that BIA forecasts just over $2 billion in OTT advertising in 2022, up from just over $1 billion in 2020. This substantial growth now gives OTT the distinction of being the fastest growing local advertising platform. BIA defines OTT ad spend as comprising ad spending targeting local viewers of long form premium video content delivered via the Internet.
Insider’s Look at Vevo’s OTT/CTV Strategies and Distribution
Every month, Vevo reaches 25% of the audience in their U.S. and worldwide markets through OTT/CTV, making them a 24/7 linear programming platform.
In this podcast, BIA’s Leyla Chatti speaks with Kevin McGurn, President of Sales and Distribution at Vevo, to discuss how music distribution has evolved in the digital landscape and how they’ve successfully used OTT/CTV distribution strategies to build a leading music video platform. McGurn also touches on the opportunities for local advertisers.
To examine local OTT directly, BIA recently released a new research report with Vevo, OTT – The Rising Star in Local Ad Spending: Regional and Business Vertical Trends. The report shows that BIA forecasts just over $2 billion in OTT advertising in 2022, and why and how it’s fair to make the claim that the sheer number of impressions makes local OTT/CTV competitive with, but also complementary to, both linear TV and digital advertising.
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):