Local advertising spending in New York City will exceed $11.5 billion in 2018, spread across TV, cable, direct mail, radio, mobile, and nine other media, according to BIA. Radio’s over-the-air piece of that $11.5 billion pie will be $769.7 million, according to BIA. That’s down from $780 million in 2017.
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.
Of the 12 media tracked in the firm’s forecast, the primary vertical expenditures in New York for 2018 include:
Direct mail – $2.9 billion
Mobile – $1.4 billion
TV Over-the-Air – $1.4 billion
Online – $1.32 billion
Radio Over-the-Air – ($769.7 million)
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.
On Wednesday, September 26, BIA will bring experts from across the local advertising and marketing, publishing, broadcasting, 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.