In its U.S. Local Advertising Forecast 2020, BIA Advisory Services predicts that total local advertising revenue in the
Traditional media revenue will generate 58.5 percent of total local advertising in 2020 at $94.4 billion, growing with the addition of political spend from $93.2 billion in 2019, the forecast says.
Online/digital revenue will reach $66.9 billion in 2020, or 41.5 percent of total local media revenue, up from $59.3 billion in 2019.
The forecast sees $6.58 billion being spent in local political advertising in 2020.
“The expectation of an aggressive presidential election next year, along with primaries and state-wide races, indicate that political ad spending will be a serious driver of local ad revenue next year,” said Mark Fratrik, chief economist and SVP at Virginia-based BIA Advisory Services. “Combine these factors with the ongoing growth of mobile and social advertising and the emergence and future significant advancement in over-the-top (OTT) advertising, the revenue landscape for next year looks robust.”
The report forecasts that $29.5 billion will be spent on mobile in 2020, growing to $44.6 billion by 2024. Close to 40 percent of mobile spending will be tied to native social, the forecast says.
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