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Local advertising won't pick up until 2012, says BIA/Kelsey Requires subscription. Text follows: The news from BIA/Kelsey casts a pall over the latest news from the Radio Advertising Bureau which said radio went from a 25% decline year-to-year decline in May to flat in December. The BIA/Kelsey report forecasts the U.S. local advertising market to reach $144.9 billion in 2014, with “local media spending is expected to be slow through 2011,” and a “meaningful recovery” for local advertising not expected to begin until 2012. BIA/Kelsey president Neal Polachek says, “The general economic conditions worsened during 2009, causing advertising dollars to remain on the sidelines … we do not anticipate a rapid recovery among traditional media over the forecast period.” The report also finds ad money steadily moving toward digital media. Spending on traditional media is expected to decline from $115 billion in 2009 to $108.2 billion in 2014, while, at the same time, spending on online/interactive media is projected to grow from $15.2 billion to $36.7 billion. http://www.radio-info.com/search?search=BIA%2FKelsey
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