Local ad spending in the country will continue to grow in 2018, according to new figures released by BIA/Kelsey. The firm expects US local ad spending to hit $151.2 billion in 2018, a 5.2% increase over $140.9 billion this year.
This infograph by PointRoll illustrates the history of online advertising.
US local ad spending via mobile is expected to soar more than 54% in 2015, from $4.27 billion to $6.58 billion.
Unproven return on investment was the No. 1 reason agency planners didn’t recommend place-based media.
SMBs will spend $50.4 billion on local media advertising next year, or 35.8% of total local media advertising spending.
National advertisers are projected to increase their spending on local media advertising by almost 9% this year, to $54.4 billion, representing 39.4% of total local media advertising dollars.
Local media revenues are expected to increase from $133.2 billion last year to $158.6 billion in 2018.
Search and social were among the top among formats, with search claiming the majority of location-targeted mobile ad spending through 2018.
US mobile ad spend is projected to grow from $7.2 billion last year to $30.3 billion in 2018, with a slight majority 52% – or $15.7 billion – of that eventual figure being location-targeted spending.
Roughly 1 in 2 executive and sales managers expect local ad revenue increases of more than 6% this year, including 20% who forecast gains in excess of 10%.