Local TV advertising isn’t what it used to be. A new report from Premion and BIA Advisory Services shows marketers how to navigate both traditional and streaming TV investments in today’s complex media landscape: The Streaming TV Playbook – Winning Strategies for Marketers in a Shifting Advertising Marketplace (available for free download here.)
Despite all the changes in local TV, one thing remains clear: marketers and their agencies continue to pour money into local video campaigns. Whether viewers are watching through broadcast, cable, or streaming services, the TV screen remains king for advertising reach.
Streaming TV represents the biggest growth area. BIA Advisory Services projects that spending on streaming TV (CTV/OTT) will reach $3.6 billion in 2024, with political advertising accounting for $1 billion of that total.
The future looks bright for streaming platforms. According to Premion’s 2024 CTV/OTT Advertiser Study, conducted with Advertiser Perceptions, marketers are betting big on streaming TV. They’re shifting budgets away from digital and social media channels, and in some cases from traditional TV, to increase their streaming presence. Some are even expanding their overall advertising budgets specifically to capture more streaming audiences.
For media buyers and sellers looking to maximize their impact, BIA recommends focusing on what they call “The 3 Rs”: Retail, Real Estate, and Restaurants. These sectors have proven to be powerhouse verticals for local advertising in 2024, with strong momentum expected to continue into 2025.
The retail sector, which receives special attention in the report, shows particularly promising numbers. BIA estimates that retail businesses will spend $212 million on locally targeted streaming TV ads in 2024, with that figure projected to rise to $231 million in 2025. The full report breaks down spending across twelve retail sub-verticals, offering detailed insights for industry professionals.
TV stations now offer two ways to reach local audiences: traditional broadcast and streaming. Broadcast TV helps brands connect with large local audiences through high-quality programming. Streaming lets them target specific viewer segments beyond gender and age and track how well their ads perform. Together, they give marketers the best of both worlds.
To help marketers navigate this growing and fast-evolving landscape, the white paper we’ve written with Premion offers a comprehensive guide to CTV advertising is now available. The report examines current CTV performance metrics, industry-specific opportunities, and key strategies for campaign development and measurement. Marketing teams will find specific, data-backed recommendations to enhance both their brand awareness and conversion rates.
The paper can be download here.
