As the coronavirus continues to significantly impact the U.S. economy, BIA has adjusted its revenue projections for 2020 local advertising.
The company now estimates the total local advertising market for 2020 to $140.4 billion, down from $144.3 billion in April. BIA’s updated forecast estimate represents a 6.1 percent decline from 2019, even with strong political advertising anticipated this year and a few business verticals showing advertising strength.
Get more analysis from the forecast in the report, Advertising Revenue in the Uncertain COVID-19 Environment, which is available for download below. It includes BIA’s pre- and post-COVID revenue expectations for local media. Links to additional complimentary research around the effect of COVID on local media are also listed below.
BIA ADVantage clients: Log into BIA ADVantage to view your updated local market advertising forecast estimates and additional COVID resources.
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Check here regularly. BIA will continue to publish complimentary analysis on the effect of the coronavirus on local advertising:
- Navigating the Local Advertising Marketplace During the Pandemic Webinar: On-Demand Video and Presentation includes vertical ad spend analysis (Watch and View Webinar here)
- Uncertain Times Give Rise to Estate & Gift Tax Opportunities (View analysis here)
- BIA estimating a double digit decline nationwide across all U.S. local advertising from its original 2020 forecast. (View forecast details here)
- Navigating the Local Ad Marketplace During the Pandemic: What Do Local Sellers Need to Do Now? (View analysis here)
- Targeting Local Radio’s Future: From Coronavirus to Over-The-Air Zoned Ads (View analysis here)
- COVID-19 and Impacts on Local Advertising (View analysis here)
- Navigating the Local Ad Marketplace During the Pandemic: Key Economic Takeaways (View analysis here)
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BIA’s U.S. Local Ad forecast tracks spending across all media platforms.
BIA’s pre-COVID (early 2020) and post-COVID (April 2020) estimates for different media channels indicates that advertisers are pulling back on spending.