Digital Ad Revenue Improves For Almost Half Of Local Media

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:

  • Audience engagement—59% 
  • AI for operations—49% 
  • Cross-platform strategies—48%
  • AI for content—43% 
  • Video distribution—29% 
  • Podcasts—17%
  • VR/AR technologies—4% 



The big successes of 2023 included:

  • Digital subscriptions—21%
  • Website/app redesigns—17% 
  • New digital tools/technology—13%
  • Video/OTT/CTV—13% 

On the negative side, the challenges were:

  • Tech resources/expertise—39%
  • Traffic declines—25% 
  • Advertising revenue declines—20%
  • Staffing training—11% 

The LMC surveyed members and non-members in September 2023. 




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