BIA/Kelsey, previewing its 2015 US Local Media forecast, estimates that small to medium-sized businesses will spend $50.4 billion on local media next year, but the amount going to digital—$12.4 billion—is a bigger piece of the pie than heretofore.
Meanwhile, Borrell Associates has issued a revision to its 2014 and 2015 local advertising forecast, also indicating that digital is taking a big chunk out of traditional media budgets. According to Borrell Director of Research Corey Elliott, “The future we all knew was coming has shown up. The days of saying things like ‘Mobile is the next big thing’ and ‘Targeted digital ads are going to be big’ are over. In the next two years, we will see a tremendous growth in these ad formats, eclipsing any gains in any other media—and even taking away a bit from other digital formats.”