Local television advertising revenues will grow nearly 11% in 2010. However, they will land behind results set in the pre-recession 2008 year.
Television station investment advisor BIA/Kelsey's latest estimates are that TV stations advertising levels will reach $18.1 billion this year, up 10.9% from 2009's $16.3 billion level. Still, the sum is $2 billion less than the pre-recession $20.6 billion 2008 mark.
A more modest ad performance is expected in the second half of 2010, due to tougher comparison numbers to the second half of 2009, which exhibited wildly strong results: over 20% for many TV outlets.
Better news will come from TV stations' Internet/digital businesses, which should see revenues grow 25% to $648 million in 2010.
One caveat: TV's traditional and new digital businesses will grow slowly in the coming years. BIA/Kelsey says overall totals will be the same in 2011 -- $18.1 billion, with Internet growing to around $800 million, while traditional TV ad business will drop to $17.3 billion from $17.5 billion.
TV stations typically grow at higher rates in even-numbered years like 2010, thanks to either revenue from TV Olympic sales and/or stronger political advertising seasons.
Estimates are that overall TV advertising revenue levels will not get back to the plus-$20 billion level until 2014, when BIA/Kelsey says the industry will hit $20.2 billion. It expects Internet ad revenue for TV stations to land at $1.2 billion.