Traditional media platforms will account for nearly 70% of the $18.5 billion local advertising spent in California’s 12 television markets this year. By 2021, however, that percentage will have decreased to just slightly over 59%, as online/digital and mobile revenue grows. Local ad spend on online/digital in California is expected to be 20% in 2017, growing to more than 22% in 2021. Mobile local ad spend in California is expected to grow the fastest, increasing from nearly 11% to nearly 19% over the same time period.
Even though the percentage of local advertising spend going to traditional media is decreasing, traditional media players can and do offer online/digital products and account for a significant portion of online/digital dollars.
Hear more about these opportunities in online/digital and how traditional media companies are already taking advantage during BIA/Kelsey’s Share of Wallet session at its upcoming Local Impact Los Angeles conference. BIA/Kelsey will present a review of its advertising estimates for Los Angeles and other California markets. Chris Kraft, CEO and Founder of Share Rocket, will present research on the social activity of local television stations in California, and discuss how those stations can continue to capitalize on their social activity. Rounding out the session is Rob Weisbord, COO Sinclair Digital Group, who will discuss how Sinclair Broadcasting capitalizes on these online/digital opportunities.
“Our advertising forecasts reveal that advertisers still trend toward traditional print and broadcast advertising as their top choices, but are definitely consuming more mobile and other online opportunities. The opportunities for traditional media to play in this arena is endless, as will be shown at this panel” said Mark Fratrik, chief economist and SVP, BIA/Kelsey.