Dr. Mark Fratrik, BIA’s SVP and Chief Economist, noted Wednesday with the release of its U.S. Local Advertising forecast for 2022 that a rise in local radio advertising will be seen in 2022. Yet, the biggest headline from the report is that, for the first time, digital will surpass direct mail as the No. 1 dollar-getter from advertisers big and small come next year.
Could deregulation for broadcast media further help Radio, and over-the-air TV too? It’s a topic Fratrik will delve into at a Forecast 2022 session on November 16 in New York.
The appearance by Fratrik at Forecast 2022, presented by Radio Ink and Radio + Television Business Report, could see the longtime ad dollar prognosticator elaborate on data released October 13 that illustrate a local radio ad forecast of $12.7 billion in 2022. But, how much of that is digital? What’s the trend? And, is over-the-air dollars a challenge for over-the-air audio?
Then there is broadcast TV, which has been cushioned by strong political advertising and retransmission consent fees.
“Radio isn’t faring as well as local broadcast TV, and it doesn’t get the same bump as TV in political years,” Fratrik said. “But it is getting close to its pre-pandemic levels as people continue to return to work commutes and traveling by car.”
And, here’s something to note: BIA forecasts local radio and local television in 2022 will each see the same dollar intake for their respective digital platforms.
While that’s intriguing, OTA cash remains the driver for broadcast media. And, many ownership groups believe, further deregulation will help them better compete against that new No. 1 ad dollar magnet in 2022 — digital.
Will the FCC act, even as it awaits President Biden’s nomination for the agency’s Chairman nearly nine months after taking office? Could Congress step in, if the Commission doesn’t?
Fratrik could offer some interesting commentary, alongside Beasley Media Group CEO Caroline Beasley and moderator Frank Montero, of Fletcher Heald & Hildreth.