Thursday, September 13, 2018

NYC Advertising Spending Forecast to Top $11.5B in 2018

Local advertising spending in New York City will exceed $11.5 billion in 2018, spread across TV, cable TV,direct mail, radio, mobile and 9 other media, according to research and consulting firm BIA Advisory Services.

On Wednesday, September 26 BIA will bring experts from across the local advertising and marketing, publishing, New York City Local Advertising Spend Forecast to Reach $11.5B in 2018broadcasting, and digital media fields to its annual LOCAL IMPACT New York conference at the AMA Conference Center in Midtown to examine New York’s local targeted ad marketplace and how data, trends and technologies are driving cross-platform media activation and consumer engagement.

The five leading vertical market categories in New York City are automotive, education, financial/insurance, general services, and government/political/religious and represent more than 30 percent of the ad revenue with total local market dollars going across traditional and online/digital media.

By 2022, BIA estimates the market will grow to $12.98 billion and online and mobile will continue to increase their shares in the market, while categories like print newspapers and magazines will decrease.

“As the number one media market, New York demonstrates its diversity not only in the large ad spend it makes each year, but in the categories it comes from and the mediums it chooses,” said Mark Fratrik, senior vice president and chief economist at BIA Advisory Services. “The fluctuating media landscape offers new opportunities for emerging digital solutions to capture more revenue dollars, and for some traditional media to both maintain their positions and strengthen their value to advertisers with multi-media offerings that are growing, and efforts such as programmatic selling.”

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