Local 2018 Radio Ad Spending in California to Hit $1.66B
|RADIO ONLINE | Tuesday, June 12, 2018|
Local advertising in Los Angeles will top $9.1 billion in 2018, while statewide spending is expected to exceed $18.8 billion across California's 12 media markets, according to BIA Advisory Services' local advertising forecast. Of the 16 advertising platforms tracked in the BIA's forecast, the top five choices for expenditures in California for 2018 included broadcast radio with a forecast of $1.66 billion.
"Our California ad forecast shows that key advertisers are getting more comfortable with a cross-platform advertising approach that includes significant mobile and digital along with their traditional advertising," said BIA Advisory Services chief economist and SVP Mark Fratrik.
The Los Angeles market represents 48 percent of California's local ad spending. Key vertical markets of retail, general services and financial/insurance across the state will cumulatively spend nearly $8 billion divided between traditional and digital media, with mobile advertising experiencing the highest growth of any media. BIA's forecasting shows that financial and insurance industry advertisers will increase its spend by at least 18 percent from 2018 through 2022.
Ad Spend in Top Media in California
- Direct mail ($4.81 billion)
- TV Over-the-Air ($2.66 billion)
- Mobile ($2.38 billion)
- Online ($2.21 billion)
- Radio Over-the-Air ($1.66 billion)