It can be hard to keep big news quiet and when it comes to BIA’s Mark Fratrik, there is huge news.
On June 30, Mark will retire from his full-time role at BIA. We announce this with excitement that he will finally get all the time he wants to golf and spend time with his family and grandkids. We also tell this news with a tremendous amount of respect and gratitude for his dedication and significant efforts on behalf of BIA for over 21 years. He is a much admired and respected colleague to all of us.
But Mark is not disappearing completely. He will maintain a role with us as a strategic advisor and consultant going forward. And, BIA is now in the good hands of Nicole Ovadia, who takes over management of forecasting services and has plans for its future expansion.
Tom, Rick and Nicole share more about Mark’s plans and what’s next in the release below. Please enjoy and stay tuned for a major BIA forecast update coming out next week. Dr. Fratrik and Nicole will have much to tell the industry on what to expect for 2022.
Mark Fratrik, Respected Industry Icon and Chief Economist at BIA Advisory Services, to Retire June 30
Dr. Fratrik will maintain a role as a strategic advisor to BIA while Nicole Ovadia takes over management of forecasting services
Chantilly, VA (June 2, 2022) – Mark Fratrik, Ph.D., BIA Advisory Services’ Senior Vice President and Chief Economist, will retire from the company effective June 30. He will continue as a strategic advisor and analyst to the company offering continuity for the firm’s forecasting, insights and analytics services that will now be led by Nicole Ovadia, Vice President of Forecasting and Analysis.
“When I look at the accomplishments of BIA over Mark’s 21-year tenure at BIA, there’s a direct correlation between our success and Mark’s dedication and expertise,” said Tom Buono, CEO and Founder, BIA Advisory Services. “Mark’s competence in analyzing the economic forces driving the local media industry has guided our forecasting efforts and allowed us to continuously deliver high-quality, reliable data and insights. His analyses have been integral to informing and influencing decisions at the highest levels of our industry and the government, and his service to BIA has been immeasurable.”
In the mid-80s, Fratrik became a pioneer in the local media industry when the field was in its infancy, and he worked as a researcher and analyst for clients related to broadcasting, digital media, and related communications industries. Over the years, and during his 21-years with BIA, he earned the reputation as an esteemed forecaster, trend-spotter, and oft-quoted expert and speaker at industry conferences.
Prior to joining BIA, Fratrik served as a Vice President/Economist at the National Association of Broadcasters. While there, he conducted primary research about the broadcasting industry and wrote numerous research studies on the radio and television industries. Before joining the NAB, he worked for the Federal Trade Commission in the Bureau of Economics where he spent nearly five years conducting analyses of industry practices to evaluate overall economic impact.
Rick Ducey, Managing Director at BIA Advisory Services, commented on his longtime colleague saying, “Dr. Fratrik set the standard for media economists with his dedication to the industry and his work at BIA. It’s a record of which he should be rightfully proud, and it’s been an honor to work with him both at NAB and BIA.”
Nicole Ovadia, who recently joined BIA as VP Forecasting & Analysis, will be leading the forecast team for BIA going forward. “Although it’s impossible for anyone to fill Mark’s shoes, I am excited and honored to have the baton passed to me. Mark has built an amazing foundation and the respect he has earned from his insightful forecasts is unmatched in the industry. Its upon that foundation that we will continue to build, improve, evolve and grow BIA’s forecasting tools and analysis.”
Prior to joining BIA, Ovadia worked with the New York State Broadcasters Association advocating for New York City radio and she spent 14 years with Emmis Communications at both the corporate level in their Strategy Group and at the local level serving as VP Customer Success for Emmis’ New York stations. Ovadia received her undergraduate degree from Wharton and has an MBA from MIT Sloan.
Tom Buono commented saying, “I am pleased Mark will be continuing with us as an advisor and analyst and have full confidence in Nicole as she has the right skill set to evolve our forecast to tackle the challenges facing our industry.”