According to its recently released U.S. Local Media Forecast 2015, the local advertising research and advisory company BIA/Kelsey is anticipating that all local media revenues will top $139 billion in 2015, an increase of more than 1.5 percent over last year.
Defined as those sources that deliver local audiences to all types of advertisers, local media advertising is expected to see revenue increases across a number of online/digital platforms through 2015, and will generate more than 25 percent of the total local media monies. BIA/Kelsey is projecting a growth rate of more than 13 percent, marking an increase from the 2014 benchmark of $31 billion to $35 billion in the coming year. This includes upticks in the local mobile and social segments, and projected growth for
- Local search ($7.1 billion to $7.2 billion);
- Mobile local advertising ($4.3 billion to $6.6 billion);
- Local display revenues ($4.3 billion to $4.9 billion);
- Local social media ($2.5 billion to $3.6 billion); and
- Local online video ($2.3 billion in 2014 to $3.0 billion).
The chief economist at BIA/Kelsey, Mark Fratrik, is predicting“…a three percent compound annual growth rate [through 2019]. Growth in online/digital advertising revenues will remain strong, with a 12.2 percent CAGR through 2019, compared with essentially flat revenues for traditional advertising (-0.5 percent CAGR) during the same period.”
Reference:
BIA/Kelsey. “U. S. Local Media Revenues to Reach $139.3 Billion in 2015“.
