Chantilly, Va.—Local media advertising revenue will increase from $132.5 billion last year to $148.8 billion in 2017, representing a compound annual growth rate of 2.3%, according to a new report from consultancy BIA/Kelsey.
The report, “U.S. Local Media Forecast, 2012-2017,” predicts that digital media’s share of total local media revenue will grow from 17.4% last year to 27.6% in 2017.
Traditional local media revenue will decrease from $109.4 billion last year to $107.6 billion in 2017, according to the forecast.
Also in the report, BIA/Kelsey said national brands accounted for about one-third of local media revenue last year.