With a potential economic downturn looming, stations should begin to look at advertising verticals that will remain viable in 2023. While no advertising vertical is completely recession-proof, there are categories that should remain strong.
A recent analysis by BIA and SalesFuel provides some interesting insights into next year’s advertising market. according to the analysis, the top five “recession-proof” verticals for local advertising in 2023 will be:
- Education — experts predict that the education vertical market will spend $1.7 billion
- Health — projected to spend $13 billion
- Finance/Insurance — expected to spend $24 billion
- Auto Repair — predicted to spend $12 billion
- Technology — projected to spend $12 billion
The analysis was part of a seminar hosted by BIA Advisory Services and SalesFuel titled “Winning Local Media Strategies: Top Recession-Proof Opportunities for 2023.” The analysis contains additional helpful information.
You can see the analysis here.
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