Local advertising spending in the Baltimore-Washington super-metro area will reach $7.9 billion in 2018 across markets in Maryland, Virginia, and the District of Columbia.
That fresh bit of data comes from the newly released BIA Advisory Services‘ 2018 U.S. Local Advertising Forecast.
The top six vertical market categories, which include retail, financial/insurance services, general professional services, automotive, restaurants and wireless telecommunications carriers (except satellite), represent more than 73% of the ad revenue, with total local spending going across traditional and online/digital media.
At No. 1, to little surprise, is Direct Mail. It has a 25.1% share and represents $1.99 billion of the total ad dollars for the two distinct DMAs that dominate the Mid-Atlantic Region.
No. 2 is TV, with a 13.9% share and $1.01 billion.
Where is radio, given the recently released fact that Hubbard Radio‘s all-News WTOP-FM 103.5 and the WTOP Network is the top-billing radio station in the U.S. for 2017, repeating in the top slot?
Radio appears fifth in the Washington-Baltimore region, with $721 million accounting for 9.1% of the total ad pie.
Radio was eclipsed by No. 3 mobile, with a 12.4% share and $980.2 million in ad dollars; and No. 4 online, with a 11.5% share and $912.1 million in ad revenue take.
“Over the last five years, we’ve projected the rise of mobile and online as more mature technologies, such as those that deliver on-the-spot advertising, become available,” said Dr. Mark Fratrik, chief economist and SVP for BIA Advisory Services.
Yet, Fratrik adds, “Advertisers still remain committed to broadcast and traditional print partly perhaps because these channels remain consistent in their ability to connect with local consumers and synchronize quite well with digital advertising efforts.”
BIA’s forecast shows that in the states of Maryland and Virginia, the wireless telecommunications carrier vertical market (minus satellite providers) is projected to grow by nearly 22% through 2022, with that business category putting their ad spend primarily in digital channels:
- Mobile (+$49.6 million)
- Online (+$14.3 million)
- Email (+$3.1 million)
- Newspaper Online (+$1.9 million)
- Radio Online (+$1.8 million)
BIA will present the firm’s local and nationwide advertising intelligence at LOCAL IMPACT DC on Thursday, May 10 at NAB Headquarters in Washington.
The half-day program will focus on local advertising, where ad dollars are being spent across top media in the metro area and where they will migrate over the next five years. Key topics throughout the agenda include digital ad spend, advertising intentions (findings from a small and medium-sized business (SMB) advertiser survey), ATSC 3.0, programmatic and the forecast for political ad spending.