U.S. advertising spending increased 0.8% to $144 billion in 2011 compared with the previous year, said Jon Swallen, SVP of research at consultancy and research firm Kantar Media. Despite this slight bump, advertising spend in Q4 2011 dropped 1% from the same period one year ago, according to Kantar's data. The decrease represents the first quarterly decline since the end of 2009, which was the point at which advertising revenues began to recover from the recession.
U.S. local social media advertising spending will increase from $400 million in 2010 to $2.3 billion by 2015, according to a report released by research firm BIA/Kelsey on Nov. 14.
The overall local media market will reach $149.4 billion by 2015 at an annual growth rate of 1.7%, according to a forecast from advisory firm BIA/Kelsey. Total local advertising revenues for 2011 will total $135.9 billion, a slight decrease compared with the $136.2 billion the firm forecasted back in March.
Media firm MagnaGlobal lowered its ad revenue forecast for 2012, warning that traditional direct marketing, notably direct mail, will continue to be challenged by postal issues and the growth of digital media because of continued weakness in the U.S. economy.
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