Boosted by expected record spending for political advertising, U.S. local advertising will grow nearly 6% next year -- with much of the overall gain coming from digital media growth.
BIA Advisory Services estimates all U.S. local advertising revenue will reach $161.3 billion in 2020 -- up from $152.5 billion in 2019.
Online/digital revenue will grow 12% to $66.9 billion in 2020 -- up from $59.3 billion in 2019 -- and will have a 41.5% share of total local media revenue.
Traditional media revenue from over-the-air TV stations and radio will rise only 1% to $94.4 billion -- from $93.2 billion in 2019 -- and will have a 58.5% share of all local advertising.
Mobile and social advertising will see the fastest digital media growth -- rising to $29.5 billion in 2020 and soaring to $44.6 billion by 2024. Around 40% of mobile spending will be tied to social.
Ad spending for over-the-top (OTT) platforms is expected to rise to $1.06 billion in 2020 -- with that number doubling in four years, to $2.13 billion.
Of the $6.6 billion estimated to come from political advertising, over-the-air TV is expected to reach just over $3 billion, while digital media is expected to hit $1.4 billion; local cable; $915 million; radio, $312 million; and OTT TV platforms, $51 million.