Tag: ad spend

BIA Advisory Services releases its 2024 U.S. Local Advertising Forecast in which it predicts that revenue across all media in the U.S. will be $175.6 billion next year, primarily due to the political season. “The 8.6% 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% increase in local advertising year-over-year.” BIA VP of forecasting & analysis Nicole Ovadia adds, “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. 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.” See more about the forecast here.