BIA’s U.S. Local Advertising Forecast 2021 Reveals A Little Growth Across Media Even Without Political Advertising

In its newly released U.S. Local Advertising Forecast 2021, BIA Advisory Services estimates total local advertising revenue across all media in the U.S. will reach $137.5 billion in 2021. This estimate represents a 2.5 percent year-over-year growth from the firm’s final post-COVID estimate for 2020 of $134.1 billion, as businesses start to adapt and rebound from the pandemic lows. As the expected presence of vaccines will help with the continuing rebound in the economy, we expect this increase will occur throughout 2021 even without the presence of significant political advertising.

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BIA Revises Down its U.S. Local Ad Revenue Estimate for 2020 to $140B Due to Continuing Coronavirus Impacts

BIA Advisory Services has adjusted its estimate for the total local advertising market for 2020 to $140.4 billion, down from $144.3 billion in April.

This forecast estimate represents a 6.1 percent decline from 2019, even with strong political advertising anticipated this year and a few business verticals showing advertising strength.

Since its April forecast, BIA increased the expected political ad spend from $7.1 billion to $7.3 billion.

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As the coronavirus continues to significantly impact the U.S. economy, BIA adjusted its revenue projections for 2020 local advertising in August 2020.

The report,  Advertising Revenue in an Uncertain COVID-19 Environment: BIA’s Updated 2020 Local Ad Forecast, examines of the effect of the pandemic on local advertising spend across media and business verticals.

Details here.