U.S. Local Advertising Revenue to Exceed $161B in 2020, According to BIA Advisory Services’ Forecast

Local ad spend by year (YoY growth) according to BIA Advisory Services:
1) 
2018 – $145.5B
2) 
2019P – $152.7B (↑ 5%)
3) 2020P – $161.1B (↑ 6%)
4) 2021P – $165.8B (↑ 3%)
5) 2022P – $173.8B (↑ 5%)
6) 2023P – $179.6B (↑ 3%)
7) 2024P – $187.6B (↑ 4%)

Local ad spend by platform (% of total):
1) 
Digital – $52.8B (33%)
2) Direct Mail – $37.1B (23%)
3) Local TV – $26.3B (16%)
4) Local Radio – $14.3B (9%)
5) Other – $30.6B (19%)

Local video ad spend by year (YoY growth):
1) 
2018 – $29.8B
2) 
2019P – $30.3B (↑ 2%)
3) 2020P – $33.0B (↑ 9%)
4) 2021P – $32.4B (↓ 2%)
5) 2022P – $34.7B (↑ 7%)
6) 2023P – $34.6B (↓ 0%)
7) 2024P – $37.1B (↑ 7%)

Digital share of local broadcast ad revenue:
1) 2018 – 6%
2) 
2019P – 7%
3) 2020P – 8%
4) 2021P – 9%
5) 2022P – 9%
6) 2023P – 10%
7) 2024P – 11%

More #1: Scripps: Don’t Overconsolidate In One Business

More #2: Nexstar: Making The Most Of Having The Most

More #3: Sinclair CEO says he’s pivoted to local news and sports to avoid streaming services ‘sea of blood’

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