According to a new report from BIA/Kelsey, the proliferation of smartphones and advanced capabilities (like location awareness and connectivity) “will help propel location-targeted mobile advertising revenues to $6.6 billion in the U.S. this year.”
The research firm’s U.S. Local Media Forecast 2015 indicates that the local targeting objectives of national brands, franchises and multi-location businesses have led to a renaissance in local media and advertising.
It is now projected that national brand spending will represent 43 percent of location-based advertising by 2018, representing $68 billion in spending.
“Nowhere do ‘national’ and ‘local’ come together more than with multi-location businesses,” said Michael Boland, VP of content for BIA/Kelsey. “They are inherently national in their footprint and resources, but they are local in that they compete for customers in the local markets where they are present. This makes them a significant participant in the local advertising ecosystem.”