Let’s face it 2020 was a horrible year. It will not be missed. Looking forward, BIA is estimating that advertising will increase, although total spending will not come back until 2022. According to BIA:
“BIA Advisory Services estimates total local advertising revenue across all media in the U.S. will reach $137.5 billion in 2021, up 2.5 percent year-over-year from $134.1 billion in 2020. Even without the presence of significant political advertising, BIA expects this increase will occur throughout 2021 as businesses adapt and rebound, and vaccines become readily available.
The $134.1 billion in 2020 is down 10% from $149.5 billion in 2019, despite the presence of an unprecedented amount of political advertising in 2020 ($7.8 billion), according to BIA’s forecast. BIA’s forecast shows the overall U.S. local advertising spend won’t return to pre-COVID (2019) levels until 2022.”
For more details on the BIA projections for local advertising click HERE.
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