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Based on changes in the overall local media marketplace, the company estimate the overall local media market will grow faster than previously thought through 2018 (at a 3.6 percent compound annual growth rate). By 2018, the total will be $158.6 billion, strengthened by political and Olympic advertising.
Total local media advertising revenue growth will fail to keep pace with growth of the overall economy throughout the company''s projection period. Advertising as a percentage of GDP will reach a new low of 0.75 percent.
Growth in online/digital advertising revenues will remain strong, with a 2013-2018 CAGR of 13.6 percent.
That compares with a 2013-2018 CAGR of 0.1 percent for traditional advertising revenues.
By 2018, local online/interactive/digital advertising revenues will be $52.7 billion, 33.2 percent of the total local media advertising revenues.
Source: BIA/Kelsey U.S. Local Media Forecast