Growth in Baltimore Local Video Display Ad Revenues Will More Than Double from 2011 to 2016
Large ad revenue increases expected from tire dealers, commercial banking, men's clothing stores
CHANTILLY, Va., Aug. 8, 2012 /PRNewswire/ -- Local video display advertising revenues will more than double in the Baltimore market from 2011 to 2016, according to data from BIA/Kelsey's Media Ad View reports. And this impressive growth will be broad based, not just isolated to just a few categories.
BIA/Kelsey, adviser to companies in the local media space, expects Baltimore tire dealers, for example, to increase their online video advertising spending from 7.2 percent of their total online ad spend last year to 20.1 percent in 2016. During the same period, commercial banking organizations will increase their online video ad spending from 6.1 percent to 17.7 percent of their total online ad spend. Men's retail clothing stores will grow their spending from 8.0 percent to 21.7 percent.
The trend in Baltimore reflects what is occurring nationally, with the U.S. video ad market growing from $800 million in 2011 to $3.7 billion in 2016 (source: BIA/Kelsey's U.S. Local Media Forecast: Full Edition).
BIA/Kelsey's Media Ad View reports provide a detailed picture of advertiser spending across all media in local markets. The reports examine the distribution of online ad share by segment (e.g., classified/verticals, search, video display and other display) to reveal the actual dollars being spent on online advertising in a local market by the most important business categories.
"While traditional media still retains the largest portion of ad dollars, businesses are allocating an increasingly higher percentage of their budgets to digital media," said Mark Fratrik, vice president and chief economist, BIA/Kelsey. "When we built our Media Ad View forecasts this year, we thought it was very important to drill down to the online share level to provide the market with a way to thoroughly understand that slice of the advertising pie and the effect of this particular growth will have on all media. This is a very important perspective to have, especially now that it's budgeting season."
In the Baltimore market, the significant growth in video display is causing share declines in other media segments. While search remains an important part of the online ad segment, its share will decline slightly over the next five years. Other segments, including classifieds/verticals and other display will experience even higher share losses.
Automotive continues to be one of the most important business categories in the Baltimore market, growing from $164 million in 2011 to $175.1 million in 2016.
Media Ad View indicates total local ad spending in Baltimore will grow from $1.3 billion in 2011 to $1.48 billion in 2016. BIA/Kelsey defines local media advertising as advertising placed on local media outlets, by national, regional and local advertisers.
NOTE: Related charts are available online at:
Media Ad View Reports
Covering 12 media, 12 ad categories and 94 detailed business categories, BIA/Kelsey's Media Ad View reports track local advertising spending by media for the most recent year and five years out (2011-2016) for every local market. Markets are organized by the 362 Core Based Statistical Areas (CBSAs) or TV/Radio markets. The reports also track the distribution of online ad spending in every local market. For more information on BIA/Kelsey's Media Ad View reports, visit www.biakelsey.com/MAV, call (800) 331-5086 or email firstname.lastname@example.org.
BIA/Kelsey advises companies in the local media space through consulting and valuation services, research, Continuous Advisory Services and conferences. Since 1983 BIA/Kelsey has been a resource to the media, mobile advertising, telecommunications, Yellow Pages and electronic directory markets, as well as to government agencies, law firms and investment companies looking to understand trends and revenue drivers. BIA/Kelsey's annual conferences draw executives from across industries seeking expert guidance on how companies are finding innovative ways to grow. Additional information is available at http://www.biakelsey.com, on the company's Local Media Watch blog, Twitter (http://twitter.com/BIAKelsey) and Facebook (http://www.facebook.com/biakelsey).
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