BIA/Kelsey Forecasts Local Ad Spending to Rise 2.8%

RADIO ONLINE | , , | :am CT

BIA/Kelsey forecasts local ad revenues for radio and television to reach $34.3 billion in 2014, up from $29.9 billion in 2009, representing a compound annual growth rate of 2.8%. Digital revenues for these media are expected to grow at a 17.8% CAGR during the same period, illustrating the continued shift toward digital media.

"Broadcasters must evolve to participate in more areas of the media ecosystem," said BIA/Kelsey Chief Strategy Officer and Program Director/Digital Strategies Rick Ducey. "This means developing the right multiplatform and multiple revenue stream strategies, which in turn requires new workflow, partnerships, business models and resources."

Additional findings from BIA/Kelsey's 2010 U.S. Local Media Annual Forecast can be viewed online at kelseygroup.com.