BIA Advisory Services in August forecasted that the industry will earn $171 billion in 2025. But understanding what’s behind that number is essential to succeeding in 2025, says Tom Buono, founder of the BIA companies and a Managing Director and co-founder of BIA Capital Strategies.
As such, Buono asked his team of analysts to identify the top 10 trends driving opportunities for local media next year. What did they find?
The answers are in a 15-page report available from BIA that sees it examine 10 emerging trends to identify opportunities for those involved with leading, selling, and delivering local advertising in 2025. “These opportunities should spark optimism and motivation for the future of the local advertising industry,” BIA says.
First, BIA predicts that 2025 will be seen as the “tipping point” for Digital’s dominance of Local Advertising spending. Digital is expected to take in 52% of Local Advertising spending, with Traditional falling below 50% for the first time when looking at the forecast without political advertising.
“While we knew this day was coming, the fact that it is finally here speaks volumes,” BIA declares.
What should broadcast radio and TV station groups do?
“Traditional media sellers play a crucial role in helping existing Advertisers expand their messaging on digital platforms to increase reach and frequency,” BIA says. “Plus, offering a unified report of campaign metrics against goals allows traditional sellers to provide added value to clients with whom digital-only sellers can’t compete. This makes local sellers an integral part of the industry’s evolution.”
There’s also intelligence on the rise of Connected TV and why the automotive sector can’t be counted out for legacy media.
TO DOWNLOAD THE REPORT, PLEASE CLICK HERE.
