CHANTILLY, VA.:Local ad revenues for TV and radio are projected to hit $34.3 billion in 2014, up from $29.9 billion in 2009, BIA/Kelsey said today. The increase represents a compound annual growth rate of 2.8 percent. Digital revenues for TV and radio are expected to grow at a 17.8 CAGR during the same period, “illustrating the continued shift toward digital media,” BIA/Kelsey said
All local media platforms are expected to take in nearly $145 billion in 2014, according to an earlier estimate from BIA. The total would represent a CAGR of 2.2 percent from 2009, and mean that TV and radio would take in nearly 24 percent of it.
BIA said all digital media (including those related to TV and radio) would take in $36.7 billion in 2014, a CAGR of 19.3 percent. Rick Ducey of BIA/Kelsey said broadcasters need to find a way to get a piece of that.
“Broadcasters must evolve to participate in more areas of the media ecosystem,” he said. “This means developing the right multiplatform and multiple revenue stream strategies, which in turn requires new workflow, partnerships, business models and resources.”
BIA recently projected 2010 TV revenues, including online income, at $16.1 billion, up from $15.6 billion last year, but still down from roughly $20.1 billion.
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