Some 55% of ad executives surveyed said they would maintain their local ad spend -- and 5.2% would lower local spend. Only 35.2% of those surveyed intended to make an increase. Research comes from BIA’s survey of some 1,500 advertisers.
BIA had estimated 2018 local advertising to be $151 billion -- up 5% from 2017.
Only entertainment industry advertisers -- amusement parks, sports teams, motion-picture theaters and other entertainment venues -- intend to make higher local media investments this year.
Retailers, professional service providers and home-trade service advertisers are looking to maintain the same local media levels.
Among all local advertising platforms, only mobile and social advertising are areas where advertisers indicate higher spending levels.
Those who said they would be lowering local advertising include: professional services, 10.5%; retail, 9.7%; home-trade services, 8.7%; financial services, 2.0%; technology, 1.3%; and entertainment, 0.3%