New York Local Ad Spending Forecast to Top $11.5B in 2018
|RADIO ONLINE | Wednesday, September 12, 2018|
Local advertising spending in New York City will exceed $11.5 billion in 2018, spread across radio, TV, cable, direct mail, mobile and nine other media, according to BIA Advisory Services. The five leading vertical market categories in New York are automotive, education, financial/insurance, general services and government/political/religious, representing more than 30 percent of the ad revenue with total local market dollars going across traditional and online/digital media.
Of the 12 media tracked in the firm's forecast, the primary vertical expenditures in New York for 2018 include:
- Direct mail, $2.9 billion
- Mobile, $1.4 billion
- TV Over-the-Air, $1.4 billion
- Online, $1.32 billion
- Radio Over-the-Air, ($769.7 million)
By 2022, BIA estimates the market will grow to $12.98 billion and online and mobile will continue to increase their shares in the market, while categories like print newspapers and magazines will decrease.
"As the number one media market, New York demonstrates its diversity not only in the large ad spend it makes each year, but in the categories it comes from and the mediums it chooses," said BIA Advisory Services Senior VP/chief economist Mark Fratrik.
On Wednesday, September 26 BIA will bring experts from across the local advertising and marketing, publishing, broadcasting, and digital media fields to its annual LOCAL IMPACT New York conference at the AMA Conference Center in Midtown to examine New York's local targeted ad marketplace and how data, trends and technologies are driving cross-platform media activation and consumer engagement.