According to recently released data from BIA Advisory Services, local advertising is expected to reach $161.7 billion in 2023, a decrease from the previous estimate of $165.7 billion. BIA attributed this to a decline in digital advertising and a slow start to the economy this year.
The conclusion got Tom Cheli, the nine-year CEO of ad sales automation and workflow company Frequence, thinking about how its local ad partners have benefited from an omnichannel approach during this period — something that could benefit broadcast radio and TV.
Tom Cheli joins us on the Podcast to share more of his thoughts on the subject.