Borrell Associates has recast its 2014 and 2015 local advertising forecast, painting a rosy picture overall but a fairly bleak one for traditional media. Earlier forecasts by Borrell have shown mixed levels of growth or decline for expenditures on print and broadcast media.
“The future we all knew was coming has shown up,” said Corey Elliott, director of research. “The days of saying things like ‘mobile is the next big thing’ and ‘targeted digital ads are going to be big’ are over. In the next two years, we will see a tremendous growth in these ad formats, eclipsing any gains in any other media – and even taking away a bit from other digital formats.”
Borrell’s new forecasts are based on an assessment of U.S. ad spending during the first half of 2014. The company focuses on the $104.0 billion spend by locally-based businesses across 3,000 U.S. counties. Here are some highlights: