Borrell says local TV advertising -- not including national spot, syndicated, or network advertising -- will hit $10 billion next year. Other estimates -- such as MyersBizNet, which includes national spot revenues for TV stations -- project a 12.5% pullback in local TV advertising for next year.
For this year, 2016, BIA/Kelsey projects total local TV advertising revenues will be $21.9 billion.
For the most part, the double-digit percentage declines are expected, given that 2017 will be a off-political and off-Olympics year. Also noted is that political TV advertising is now projected to be less for 2016 than anticipated.
But digital media for local TV stations will continue to see major improvements next year. Sixty-eight percent of TV advertises play to increase all digital media spend, according to Borrell, where it surveyed 1,589 advertising executives.
Digital media advertising for TV stations has been estimated to hit $1 billion in revenue this year, according to BIA/Kelsey.
Digging deeper into digital media, the Borrell report says 70% plan to start buying or increase spending on mobile media; 38% in cinema advertising, and 31% in direct mail. Local advertisers also plan to make cuts or eliminate spending in yellow pages (51%), newspapers (41%), and magazines (37%).