MediaDailyNews
by Wayne Friedman, Nov 19, 2013, 10:13 AM
Local media is expected to grow at a faster rate than previously estimated over the next five years -- but overall still at low single-digit percentage increases.BIA/Kelsey sees local media climbing 2.8% to $151.5 billion by 2017. It projects 2013 levels to be at $132.9 billion.
Traditional media -- TV, newspapers, and outdoor -- will remain essentially flat for the next five years, getting to $107 billion in 2017 from $106.4 billion in 2013. This represents just a 0.1% growth rate over that time span.
Television remains the leader with the largest share, dipping slightly in five years to 14.6%. Radio will take the No. 2 position -- sinking a bit to a 10.6% share. Newspapers will also decline, with a 9.1% share, while Yellow Pages will take a 1.5% share.
Newspapers' local digital efforts will have the largest share for local digital activity, at 2.4%, followed by Yellow Pages digital revenues at 1.9% share; TV’s online business at 0.7%; and radio’s digital revenues at 0.5%.
The most rapid growth will occur in the local online/digital arena -- climbing at a 13.8% annual compounded rate to $44.5 billion in five years. Estimates are that local digital advertising revenues will be at $26.5 billion. Local mobile advertising will hit $10.8 billion in 2017 -- which BIA/Kelsey says will account for 52% of all U.S. mobile ad spending.
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