Local broadcast TV will see a modest 11% increase in 2024 to $23.8 billion, according to BIA Advisory Services, while local over-the-air platforms are forecast to climb 4.6% to $21.7 billion, from an
expected $19 billion this year. Automotive advertising is projected to rise from its current doldrums to $192.6 million. BIA says this will be the largest increase since 2019.
U.S. syndication programming and advertising continues to show weakness. So where does it go from here?
Broadcasters in the top local TV markets delivered as many as 12 times the ad impressions as streaming platforms did, the TVB said.
The real challenge is how to manage reach and frequency across platforms where most consumers are reachable by both linear and addressable.
TV stations and other platforms have "less and less quality programming, as legacy media companies now launch all their new shows direct to streaming," says Richard Greenfield, media analyst at
Americans have a dismal view of the national news media. Only 26% have a favorable opinion, while 53% have an unfavorable one, according to American Views 2022: Part 2, a Gallup/Knight Foundation
study released last week.
Nearly 18% of local media buyers say they anticipate cutting back on legacy TV, followed by newspapers with 17%, magazine media buying at 15% and radio at 14%.
The Google News Initiative is working with the American Journalism Project to find U.S.-based founders with innovative ideas that can advance local news online.
Long term, what's the plan for ads on local TV? Borrell Associates is estimating nearly flat results for U.S. local advertising -- up just 0.6% to $121.5 billion in 2023.
Borrell Research on Wednesday released data projecting that local advertising will experience growth of a mere 0.6% next year.
OTT spending is forecast to exceed $2 billion -- drawing strength from multiple business verticals, including political advertising. From 2022-2026, OTT will grow at a 14.3% compounded annual growth
rate, second to digital TV owned-and-operated streaming and website advertisements sold by local broadcast stations.
The political advertising estimate for 2022 is the highest ever for any political ad cycle, according to AdImpact -- 7% higher than 2020 and two-and-a-half times higher than the 2018 midterm cycle.
The average compounded annual growth rate over the past two years for OTT was 43%, which makes it the fastest-growing local media, followed by local digital radio, local mobile, local digital
magazines and local PC/laptop advertising. The top advertising local OTT category for 2022 is projected to be general services, at $337.2 million.
As the 90-year-old Krystal restaurant brand looked to appeal to younger demos, the marketing team focused on college towns and some of their strongest influencers - star athletes. Executing on this
smart plan took more than posing Quarterbacks with store owners. Krystal Restaurants' Director of Marketing, Kaitlin Stoehr, shares what the company learned about crafting local campaigns around
recruiting this special class of social influencers, creating authentic live engagements, and then amplifying this content effectively in the community.
BIA Advisory Services now estimates $167.4 billion for 2022-- $5.9 billion lower than the amount estimated in an earlier report.
When including all media platforms -- local broadcast, local cable/satellite, radio, digital and OTT -- Kantar projects political advertising could total $8.0 billion this year -- up from $7.8
billion in an August 2021 projection.
Nielsen has struck a deal with Vizio to add data from Vizio's 20 million TV homes through the TV set manufacturer's Inscape TV research business. Nielsen now has the rights from Vizio to integrate
Inscape data in both its local and national audience-measurement solutions. Nielsen says its TV panels will be used to "validate" what is missing in Big Data sets.
TV ad spend on AVOD platforms is forecast to grow 43% to $11.2 billion from $7.8 billion in 2021. MoffettNathanson expects the largest component of TV advertising -- national cable TV networks -- to
remain virtually unchanged, while broadcast networks will slip a bit.
Financial-services businesses will drive the growth in local mobile advertising.
In 2022, political advertising will hit another record total for broadcast TV -- totaling $3.8 billion for the midterm elections vs. $3.05 billion in 2018, BIA Advisory Services says.
NextGen base revenue is projected to be 22% of all local TV station revenue by 2022. This will boost the relatively stagnant revenue core outlook, partly due to competitive, fast-growing,
digital-first local media.
Despite heavy Nielsen spin -- on- and off-the-record as well as to its investors -- that accreditation of its ratings services doesn't actually matter, the consensus among some of its biggest
customers is that the credibility of its services have been tarnished by the Media Rating Council's suspension of both its national and local services.
Kantar's ad-equity ranking of media channels and brands found that online and mobile games showed the greatest improvement in consumer receptivity. Consumers find gaming ads more "trustworthy,"
"relevant," and "useful" as well as "fun and entertaining." YouTube, Google, and Facebook are still the most trusted social media platforms.
While only 5% of local advertisers believe they have become "over-reliant" on digital, three times as many local agency execs believe their clients have.
Digital media -- especially social and paid search -- dominate local advertisers' media mix, according to a Borrell survey of 2,811 local advertiser media buyers released today. Those also are the
media local advertisers say they are boosting spending for this year. Local TV advertising, both broadcast and cable TV, remain the largest average annual local ad budgets at $111,300 and $48,000,
respectively (see table at bottom).
A study of local ad agencies across the country by Borrell Associates found that 17% are now using TikTok -- "more than double" what Borrell found in its survey six months ago.
Although traditional TV platforms will decline this year, local TV stations' digital efforts will make some gains.
Changes in consumer behavior and attitude will drive shifts in media buying, from location-based targeting and search to out-of-home electronic billboards and fueling stations.
Marketers targeting ads locally have a new type of reference tool. Yelp and Zillow announced a partnership Wednesday naming the top U.S. metro areas for digital nomads, as the prospect of permanent
work-from-home agreements becomes more likely.
What would it mean to your media mix model if you bought people instead of channels? Building out your media campaign with smart data and custom modeling instead of working from the top down. Cadillac
is doing just that with their current audience first approach.