In its newly released U.S. Local Advertising Forecast 2021, BIA Advisory Services estimates total local advertising revenue across all media in the U.S. will reach $137.5 billion in 2021.
This estimate represents a 2.5 percent year-over-year growth from the firm’s final post-COVID estimate for 2020 of $134.1 billion, as businesses start to rebound from the pandemic lows. As the expected presence of vaccines will help with the continuing rebound, BIA expects this increase will occur throughout 2021 even without the presence of significant political advertising.
In 2021, traditional media revenue will account for 55.3 percent of total local advertising at $76.1 billion, a slight decline from 2020 levels. Digital media revenue will grow to $61.5 billion in 2021 to obtain 44.7 percent of total local media revenue, a share increase of 3.7 percent from 2020.
“Although we are estimating an overall increase in total local advertising next year, we do not expect spending to recover to pre-COVID (2019) levels until 2022,” said Mark Fratrik, chief economist and SVP at BIA Advisory Services.
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