BIA/Kelsey Forecasts Local Media Revenues To Reach $139.3 Billion In 2015
September 22, 2014 at 4:00 AM (PT)
In its new U.S. Local Media Forecast 2015, BIA/KELSEY forecasts total local media revenues to reach $139.3 billion in 2015, up from $137 billion this year, representing a growth rate of 1.6%. BIA/KELSEY is presenting highlights from the forecast today at its LEADING IN LOCAL: SMB Digital Marketing conference, which is taking place through WEDNESDAY, SEPTEMBER 24th in NEW ORLEANS.
Online/digital will account for more than one-quarter (25.2%) of total local media revenues in 2015. Revenues for online/digital are expected to grow from $31 billion in 2014 to $35 billion in 2015, representing a 13.1% growth rate.
Mobile local and local social are among the categories within the online/digital segment that are seeing strong growth. Forecasts for several online/digital categories include:
- Mobile local ad revenues will grow from $4.3 billion in 2014 to $6.6 billion in 2015
- Local social media revenues will grow from $2.5 billion in 2014 to $3.6 billion in 2015
- Local search revenues will grow from $7.1 billion in 2014 to $7.2 billion in 2015
- Local display revenues will grow from $4.3 billion in 2014 to $4.9 billion in 2015
- Local online video revenues will grow from $2.3 billion in 2014 to $3.0 billion in 2015
“We expect the pace of growth in the overall local advertising marketplace to moderate through 2019, resulting in a 3% compound annual growth rate,” said BIA/KELSEY Chief Economist MARK FRATRIK. “Growth in online/digital advertising revenues will remain strong, with a 12.2% CAGR through 2019, compared with essentially flat revenues for traditional advertising (-0.5% CAGR) during the same period.”