Chantilly, Va.—Local ad spending in the automotive and financial services industries in the U.S. continues to climb, and expenditures on mobile ads are expected to make strong gains by 2017, according to marketing consultancy BIA/Kelsey.
According to BIA/Kelsey's “Media Ad View Plus” forecast, total local ad expenditures for the automotive sector will grow from $16.1 billion in 2012 to $17.5 billion in 2017. Similar growth is expected from the financial/insurance category, which will climb from $12.6 billion in local ad spending to $15.3 billion.
The financial/insurance category will increase its share of local mobile ad spending from 1.6% in 2012 to 9.8% by 2017, the report found. The automotive industry's share of local mobile advertising will rise from 0.5% to 4.4% in that same time frame, it said.