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Tom Buono, founder and CEO of BIA Advisory Services, shared insights on the future of local advertising at the annual TVB Forward Conference in New York. In a presentation to broadcast executives, Buono revealed shifts in ad spending patterns, key business categories investing in local television, and the prospects of mergers and acquisitions in the broadcast industry in 2025.
BIA’s local television advertising forecast — which rolls up linear TV, TV digital and connected TV/Over-the-Top — projects local revenue will reach $21 billion in 2025, a 3.6% increase from 2024 when examining the industry without political advertising. CTV/OTT is the largest growing segment of local television, bolstering the industry’s digital growth.
“Our review of this year’s spending and our latest forecast for 2025 indicates a pivotal moment in local advertising, with digital media continuing its robust growth trajectory,” Buono said. “While traditional television viewing remains resilient, the surge in streaming services is reshaping the media landscape.”
Television And Digital Convergence
Television And Digital Convergence
BIA’s analysis reveals an evolving television landscape where traditional and digital platforms are increasingly interconnected:
Traditional TV over-the-air (OTA) revenue continues to demonstrate stability at approximately $16.5 billion (with political) in 2024, though its overall share of wallet has declined from 11.4 percent to 9.6 percent from 2019 to 2025. TV Digital (i.e., owned and operated mobile apps & websites) grew steadily from 2019 to 2024. CTV experienced rapid growth during this same timeframe. Legal Services is the largest category spender for local TV at $1.85 billion across TV OTA, TV Digital