“You’re going to have to change the way you do business,” CBS’s Ezra Kucharz told media executives earlier this week in a keynote at Borrell Associates’ Local Online Advertising Conference in New York. “The world is changing and we have to change with it.”
Local digital ad revenue will grow from $48 billion in 2015 to $66 billion in 2016, Borrell Associates projects in its new benchmarking report covering 10,395 sites in all media. That’s an eye-popping increase of 37.5%. But newspapers will see only a 6% to 7% revenue increase,
At that Borrell Associates event this week in New York, several speakers touted local live events — from awards shows, to beer tastings, to road races — as a potentially lucrative revenue stream with sizable margins, that local publishers could easily expand into.
“Ad blocking represents the new normal in the media industry,” he said at Borrell’s local advertising conference in NYC. And if present trends continue, ad blocking could soon “surpass 50% on most sites.”
Every two weeks, Geoff Michener covers some of the latest job changes taking place in this dynamic industry. In this week’s column, Borrell Associates ups its research director, eBay names a new CMO, and RevMob appoints a co-CEO.
According to the report from Netsertive and Borrell Associates, 38 percent of local businesses cited “too much paperwork” as the greatest barrier to co-op marketing, and another 38 percent cited “too many rules.”
Ten years from now newspapers will be delivering more local video programming than TV stations. Inconceivable? Sub out the word newspapers for “a local media company formerly known as a newspaper,” and consider the assets, cash-flow and aggressiveness of these big print companies, and you might warm up to my theory.
The new Borrell Associates projections for the growth of programmatic ad revenue in local digital publishing are, in a word, big…
For years, the traditional businesses have generated the majority of revenue, leaving some executives to drag their feet. But now, the door for legacy business to exit the market is closing and the conversations about the digital transition have become increasingly existential.
“We can certainly view people who frequent hyperlocal news sites as ‘readers’ who are there for the content. But once we begin to realize that they are likely to be buy something that day, tomorrow, or next week, then we begin understanding the real value of that audience,” says the CEO of Borrell Associates…