BIA Estimates Local Broadcast TV Ad Revenues to Top $23.8 Billion in 2024, Bolstered by Political and Increased Auto and Legal Ad Spending
BIA CEO Addresses Television’s Share of the Local Advertising Marketplace for Key Ad Spending Verticals…
In 2020, many CEOs of America’s largest corporations responded to the civil unrest taking place throughout the nation with statements about working to promote diversity, equity and inclusion within their companies and in their outreach to the Black community and Black businesses. Jim Winston, NABOB President said, “One question that was asked when these new advertising and marketing commitments were made is: How many advertising dollars are currently being expended with Black Owned radio stations? This report answers that question, and the answer is very simple – too few.”
The report shows that, of the 168 stations researched for this report, 121 (72.0%) gross less than one million dollars per year in advertising revenues, and average just 2.8% of Local Commercial Share.
Winston added, “Black Owned stations have a unique connection with the communities they serve, and that connection can directly benefit advertisers. The financial information provided in this BIA report sharply illustrates the lack of financial support that Black Owned stations are receiving in comparison to their general market competitors. We at NABOB hope that the presentation of this information for the first time will inspire a concerted effort within the advertising industry to advertise on our NABOB member stations.”
Rick Ducey, Managing Director, BIA Advisory Services, stated “BIA is proud to team with NABOB to present the results of this inaugural study of radio stations owned by African Americans. As marketers and agencies continue to expand their commitments to reach and serve minority audiences, their interest in investing in minority owned stations has increased. However, prior to this report the industry did not have available an authoritative record of these stations, nor their economic standing. With this report, NABOB and BIA provide a benchmark study and data set that will facilitate targeted investment by radio advertisers seeking to reach the audiences served by these stations.”
To learn more about the significance of the 2022 Black Owned Radio Stations Ownership & Revenue Report, tune into BIA’s “Leading Local Insights” Podcast available on all major streaming platforms.
Visit NABOB.org to download the 2022 Black Owned Radio Stations Ownership & Revenue Report.
About The National Association of Black Owned Broadcasters (NABOB)
NABOB is the first and only trade organization representing the interests of African-American owners of radio, television, and digital media across the country. The association was organized in 1976 by a small group of African-American broadcasters who desired to establish a voice and a viable presence in the industry and to address specific concerns facing African-American broadcasters.
About BIA Advisory Services
BIA Advisory Services is at the forefront of local media analysis, creating and delivering unique data to examine traditional and digital advertising revenue, advertiser trends and activities, local market profiles and ownership/operational details and the trends and technologies guiding today’s media business.
Since 1983, BIA has been a valuable resource for traditional and digital media companies, brands and agencies, the financial and legal community serving media and telecom, as well as the FCC and other government agencies. Today, we offer comprehensive local market advertising intelligence in our BIA ADVantage data platform to help clients discover the path to their best opportunities. Learn more about our offerings at http://www.bia.com.
For More Information Contact:
Dimensions Media Agency
BIA Advisory Services
MacKenzie Lovings – (703) 802-2991
Robert Udowitz – (703) 621-8060