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LOCAL IMPACT DC event on May 10 will forecast share of wallet between digital and traditional media both nationwide and in local markets
CHANTILLY, Va. (May 7, 2018) Local search advertising on Google and local advertising on YouTube will top $19 billion nationwide and exceed $1 billion in the combined DC, Virginia and Maryland television markets in 2018, according to BIA Advisory Services. Google will represent close to 40 percent of all local digital advertising across all markets. By 2022, BIA projects local Google advertising will exceed $27 billion nationwide, and reach nearly $1.5 billion in the DC/VA/MD Television markets.
BIA will discuss the dominance of Google in digital while examining the overall Baltimore-Washington advertising marketplace at LOCAL IMPACT DC on Thursday, May 10 at the National Association of Broadcasters (NAB) Headquarters in downtown D.C.
“The most rapidly growing media channel for local advertising is mobile, followed by desktop advertising”, said Mark Fratrik, Chief Economist and SVP, BIA Advisory Services. “As the market leaders in these local digital advertising, Facebook and Google advertising are projected to grow at healthy rates. By comparison, local radio and television advertising are projected to be relatively flat over time, while print media advertising continues its decline.”
According to BIA, local Google advertising in 2018 is higher than the total digital advertising revenue on any local media. When you add local Facebook advertising to local Google advertising they are estimated to account for almost 48% of all local digital advertising.
In fact, local Google advertising exceeds the total local advertising generated by all 11,044 commercial radio stations in the U.S. and rivals the amount generated by all 1,282 full power commercial television stations in the U.S., according to BIA. With the continued more rapid growth of digital advertising, BIA forecasts that by 2022 local Google advertising will almost double the over-the-air advertising of the entire radio industry.
“The local advertising marketplace has been significantly altered over the past five years with the growth of local advertising on Google, and to a lesser extent Facebook”, said Tom Buono, CEO BIA Advisory Services. “We’ve been tracking local advertising for over 30 years and have witnessed the decline of print advertising and now we see serious threats to local radio and TV. However, we also realize the advantage traditional media has in local marketplaces and key decisions now around digital advertising will make all the difference to safeguard their share of the ad wallet.”
Local Advertising Insights and Analytics
BIA’s nationwide and local market findings are available in BIA ADVantage, the firm’s market intelligence dashboard that delivers nationwide and broadcast market advertising information on media platforms and business verticals. The dashboard also offers details on local television and radio competition, proprietary advertiser survey insights and analyst reports and briefings. For more details, click here or email email@example.com.
About LOCAL IMPACT DC
BIA will examine digital and traditional advertising at its LOCAL IMPACT DC event on Thursday, May 10 at the headquarters of the National Association of Broadcasters (NAB) headquarters in D.C. The half-day program will focus on nationwide and local advertising, where businesses are spending ad dollars across top media and the share of wallet across traditional and digital advertising over the next five years.
Other topics on the agenda include programmatic, TV buying automation, ATSC 3.0 and the effect of political advertising this year. New speakers just announced for LOCAL IMPACT DC include:
The full lineup of speakers also includes:
About BIA Advisory Services
BIA Advisory Services is the leading authority for data-centered insights, analysis, strategic consulting and valuation services for the local media industry. Since 1983, BIA has been a valuable resource for traditional and digital media companies, brands and agencies, the financial and legal community serving media and telecom, as well as the FCC and other government agencies. Today, we offer comprehensive local market advertising intelligence in our BIA ADVantage data platform combined with analyst insights, actionable strategies and business financial assessments to help clients discover their best opportunities. Learn more about our offerings and our regional event series, LOCAL IMPACT, at our website http://www.bia.com.