Well known research firm BIA/Kelsey is out with four main predictions about top trends in local media for the coming year.
The company’s new report — “What’s Next: BIA/Kelsey 2017 Analyst Predictions” — is the annual report BIA/Kelsey issues to identify and explain the developments it anticipates the year will bring in mobile, social, video, programmatic, digital, and traditional advertising and promotions.
“We expect this year to be a transformative period for technology and media,” said Tom Buono, CEO at BIA/Kelsey. “In our predictions report, we dive into key topics such as programmatic, mobile advertising revenue, online video, small business advertising trends, local television and radio versus competing media, local on demand business models and small business advertising and marketing trends.”
The first prediction? That national brands will outgun regional and local small- and medium-sized businesses (SMBs) in total ad spending to target local consumers.
“National brands will outpace regional and local SMBs in total ad spend growth targeting local audiences,” said Rick Ducey, BIA/Kelsey’s Managing Director. “Agencies and marketers for these national brands will increase their ad spend targeting local audiences by $17.1 billion from 2015 through 2020. Regional advertisers’ spending will be relatively flat, and local SMBs will increase their spend by $10.6 billion.”
Another prediction is that print advertising will continue to evolve and maintain a large share of small businesses’ dollars by extending campaigns with digital media.
“Print is evolving and still holds a large share of small businesses’ ad dollars. This will continue as smart companies extend print campaigns through native and digital targeted media,” explained Celine Matthiessen, BIA/Kelsey’s Vice President for Analysis & Insights. “In our forecast for 2017, $53 billion will be spent on local print. Newspapers, magazines, and Yellow Pages are offsetting declines in print revenue with digital. These traditional digital efforts are projected to grow 4.0 percent annually from 2017 to 2021.”
The full 2017 predictions report, which includes more than 20 predictions, is available for clients of BIA/Kelsey’s advisory services.