Here’s more positive radio ammo for your sellers to take out on the streets. According to Media Ecologist Jack Myers, radio is expected to see a 12.3% increase in ad spending over the next three years. Myers released his 29th Annual Marketing & Advertising Data and Spending Forecast yesterday with all the details.
Myers says radio will see its total share of the ad revenue pie go from 2.8% to 3% by 2020. Myers says radio revenue will increase from $15.9 Billion in 2016 to $17.8 Billion in 2020. Here are more details from his most recent spending forecast.
Yellow pages are forecast by Myers to decline another 12.5% to $4.8 billion and he projects newspapers will decline 2.9% to just under $20 billion in 2020. Here’s the biggest surprise from the report: the greatest decline in annual advertiser investments will be in a digital media category.
Online originated desktop display (banner) advertising is forecast to decline 32.6% from $6.8 billion in 2016 to $4.6 billion in 2020. Digital spending overall is continuing to grow as marketers shift below-the-line budgets to social, search, video and mobile advertising. Among digital media, online originated video content advertising is forecast to experience the greatest growth, from $4.8 billion in 2016 to $11.8 billion in 2020 (147.5%). Social marketing is projected by MyersBizNet to increase 138%; Mobile/apps advertising by 123% and search marketing (desktop and mobile) by 70%.