Local Advertising: Online Advertising Outpaces Growth in Broadcast Media
By Anna Johnson on March 24th, 2010Local advertisers are increasingly shifting their advertising spend to the Internet. So much so, according to BIA/Kelsey, that by 2014 local spending in digital media will exceed local spending in broadcast media (television and radio).
BIA/Kelsey estimates that local advertising on television and radio will reach $34.3 billion in 2014, a 2.8 percent compound annual growth rate (CAGR) over the estimated $29.9 billion in 2009.
This growth rate, however, trails the 17.8 percent CAGR local advertisers are expected to devote to digital media over the next four years. BIA/Kelsey expect that by 2014 local advertising in digital media will reach $38 billion.
