BIA Advisory Services forecasts local broadcast TV will take 27.2 percent of all local media spending in the automotive category this year. That equates to $4.13 billion of the $15.18 billion it estimates auto ad spending will total in the local market. Cable’s share is projected to be 6.2 percent, or roughly $1 billion. But TV’s hold on those dollars is becoming increasingly strained, according to BIA Managing Director Rick Ducey.
“What we’re looking at in our forecast going to 2023 is that all of the local advertising growth in the auto sector is going to be in digital channels,” he said on a webinar yesterday. “It’s going to take 50 cents of every dollar and basically consume all of the oxygen in the room, taking all of the growth.”