Survey says: local media revenues top $139 billion next year

survey-chartIn its newly-revised U.S. Local Media Forecast 2015, BIA/Kelsey is projecting that local media revenues from all sources will hit $139.3 billion in 2015, an increase of over $2 billion, or 1.6% growth. Fully 25% of that total will be online/digital; that sector is expected to grow from $31 billion in 2014 to $35 billion in 2015, a growth rate of just over 13%.

BIA/Kelsey Chief Economist Mark Fratrik: “We expect the pace of growth in the overall local advertising marketplace to moderate through 2019, resulting in a 3% compound annual growth rate. Growth in online/digital advertising revenues will remain strong, with a 12.2% CAGR [compound annual growth rate] through 2019, compared with essentially flat revenues for traditional advertising (-0.5% CAGR) during the same period.”