According to BIA/Kelsey’s Media Ad View Plus forecast, auto and financial/insurance advertising in local media is growing steadily. BIA expects the total local spend for the auto sector to grow from $16.1 billion in 2012 to $17.5 billion in 2017, increasing its share of online advertising from 7.4% to 12%, and its mobile advertising from 0.5% to 4.4%.
Similar leaps are expected from the financial/insurance category, which will climb from $12.6 billion in local ad spend to $15.3 billion, with the mobile spend growing from 1.6% to 9.8%.
As reported in March in its U.S. Local Media Forecast (2012-2017), BIA/Kelsey expects the overall local ad market will climb from $132.5 billion in 2012 to $148.8 billion by 2017.
“The local media market continues to experience positive growth as media buyers look both locally and nationally to identify the right mix of traditional and digital channels for reaching local targets,” said Dr. Mark Fratrik, vice president and chief economist, BIA/Kelsey. “Online and mobile continues to be the top growing ad channels. By 2017, the real estate business category will increase its online ad spend to an astonishing 40.8% and automotive dealers will focus on video, spending 11.4% of their $2.4 billion online ad budget on video display.”
By 2017, online’s share of real estate advertising will grow by nearly 18% and that the QSR restaurant category will increase its online spending from $434.4 million to $618.6 million.