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Viewing report
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Benchmarking: Local TV Web Sites Gaining Ad Share - TV Web Revenues & Online Ad Spending Projections for 211 Cities
Borrell Associates Inc., Jan 2006, Pages: 32
As 2005 ended, many stations seemed to have caught the Internet bug. As a whole, stations increased their online ad share two points over the past 12 months. Some station groups are now generating millions from their Internet operations. As 2006 begins, the future looks bright. According to this Borrell Associates report 'Benchmarking: Local TV Web Sites Gaining Ad Share - TV Web Revenues & Online Ad Spending Projections for 211 Cities', TV Web sites are budgeting an average 45 percent growth, a figure that might help them steal even more market share.
Television executives shouldn't be surprised by the growth in local online advertising. It holds strong parallels to another advertising medium that burst onto the scene and started stealing share from traditional media 50 years ago - television advertising.
There is evidence that the Internet will be just as strong as an advertising medium - if not stronger - than television. Internet advertising had a compound annual growth rate of 51.4 percent in its first 10 years, while broadcast TV's growth was 42.7 percent in its first decade and cable TV 37.3 percent. This indicates a likelihood that the Internet will become a significant local as well as national advertising medium that will reach par with TV, newspapers and direct mail advertising shares.
The scenario is hardly believable to TV stations that get less than 2 percent of their gross revenues from their Web operations. To them, the hundreds of thousands of dollars that a Web site might generate pales in comparison to a broadcast station's tens of millions of dollars.
Things are beginning to change. Perhaps taking a cue from the beleaguered newspaper industry, TV stations are just now realizing that their Web sites are not merely interactive brochures for their stations, but an opportunity to generate new ad revenue and excitement for their companies.
As 2005 ended, many stations seemed to have caught the Internet bug. Stations increased their online ad share two points over the past 12 months. Some are snaring as much as 15.5 percent of all locally spent online advertising. Some station groups are generating millions from their Internet operations.
As 2006 begins, the future looks bright. TV Web sites are budgeting an average 45 percent growth - a figure that might help them steal even more market share.
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