Some 866 respondents in Borrell’s spring 2023 survey of local ad buyers were asked what types of media were budgeted for increases in 2024. This includes new buying opportunities along with dollar increases.
While 58% say they plan to add or increase spending on something in 2024, they are barely looking at local over-the-air television. And, radio isn’t so popular, either.
According to the survey from Borrell Associates, with the data point released February 1, Social Media ranks first, followed by SEM and website ads. Then comes events/sponsorships, direct mail and content marketing.
With Social Media at 28%, Radio, comparatively, comes in at 8%. So does Streaming Audio.
While this could be seen as downbeat news for Radio, the television industry is not capturing local ad buyers who wish to increase or commence activity this year. Broadcast TV comes in at 5%; Cable TV is second to last, ahead of just printed directories.
