fbpx

Home » BIA projects $175.6 billion in 2024 local advertising marketplace spending strengthened by political season

Capitol Communicator has a report that In its newly released 2024 U.S. Local Advertising Forecast, BIA Advisory Services estimates revenues across all media in the U.S. will reach $175.6 billion next year.

BIA projects $175.6 billion in 2024 local advertising marketplace spending strengthened by political season

by | Oct 23, 2023

In its newly released 2024 U.S. Local Advertising Forecast, BIA Advisory Services, Chantilly, Va, estimates revenues across all media in the U.S. will reach $175.6 billion next year, primarily due to the political season. The 8.6 percent increase over 2023 is slightly shadowed by concerns of an economic downturn and overall lower ad spending. With the forecasted political revenues removed, BIA’s projection in 2024 is $164.6 billion in total local advertising, only a 2.2 percent increase in local advertising year-over-year.

“As expected, 2024 will be driven by political spending, and, even in markets that are not highly contested there will be a large amount of political advertising,” said Nicole Ovadia, VP Forecasting & Analysis, BIA Advisory Services. “Local political advertising will be fueled by the Presidential and Senate campaigns as well as issue-based advertising. When we look at the forecast without political, we expect only a slight increase in ad spending due to both global and local economic trends that may create more cautious spending.”

The split between traditional and digital advertising shows that digital has a slightly smaller share, 48 percent, of the overall advertising spend at $84.1 billion. Traditional media ad revenue is slated at 52 percent of the ad spend at $91.5 billion.

About the Author

Capitol Communicator

Capitol Communicator is a unique online and offline resource for Mid-Atlantic advertising, marketing, public relations, digital and media communications professionals. The e-magazine, e-newsletters and events bring together communications professionals, fostering community and providing important information; news; trends; education; and opportunities for networking, career enhancement, business exchange and showcasing great work. Get more information by clicking on Capitol Communicator above.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *


Sponsors

Brand Creep

Total Immersion

CAPITOL COMMUNICATOR CAREER CENTER SEARCH RESULTS (JOBS IN MULTIPLE LOCATIONS)

MEDIA KIT

Recent Comments

Categories

Events

 

SUBSCRIBE