Advertising on both national cable networks and local cable ad sales are expected to jump 5% to 7% in 2008, and 1% to 3% in 2009, the Television Bureau of Advertising said Thursday.
The advertising business in 2008 will be driven by the presidential race, TVB said. Other factors impacting media buyers include “the impact of the credit crunch on the consumer economy, the re-shaped automotive category, the ability of new media to sustain momentum, pressure on business practices and processes, and the Olympics,” TVB said.
TVB, which released the numbers at Forecast Conference in New York, predicted that local broadcast spot advertising will increase 5% to 6% through 2008, while national spot advertising will jump 14% to 16%. But in 2009, national spot advertising is expected to fall by 8% to 10%, while local spot advertising will increase 1% to 3%, TVB said.
Advertising for syndicated shows is expected to grow modestly. TVB projected syndication growth of up to 2% in 2008 and 3% to 4% in 2009.
TVB, a trade association for TV stations, projected the largest advertising growth by percentage for TV station Web sites. Ad revenue from local TV station Web sites will jump 40% to 50% in 2008, and rise 35% to 45% in 2009, TVB said.
The estimates were based on a consensus of Wall Street and financial analysts, station representative firms, and independent TVB research.