Digital ad sales are on the uptick, according to a new study from the Local Media Consortium (LMC): Local Media Industry Insights Survey 2023.
Of the local media executives surveyed, 49% say digital revenue rose in 2023 YoY, while 21% report it was flat and 19% saw a decrease.
Moreover, 79.7% expect an increase this year, while 9.3% expect revenue to stay flat and 9.3% foresee a decrease.
Only 7% list AI as a priority for 2024, although 49% feel it bears watching.
The top 2024 trends include:
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The big successes of 2023 included:
On the negative side, the challenges were:
The LMC surveyed members and non-members in September 2023.