LCR Bytes: Google Dominates the New York Ad Market
Google leads the pack as the #1 ad biller for paid media in New York City. This according to BIA/Kelsey’s new Local Competition Report (LCR).
With $771M and a 7.64 percent share of ad spend in NYC, Google leads Facebook, Bing, Yahoo!, Pandora, Yelp, Twitter, and AOL combined. These other digital brands account for $429M, making them collectively the 3rd largest biller behind the New York Times.
Once we get past the digital and newspaper media platforms, it’s all about TV and radio broadcasting. Between its TV and radio properties, CBS bills almost as much at the New York Times.
Between Google and the other major digital brands, over $1.2B of media spend targeting local audiences accrues to national ad platforms that are selling geo-targeted audiences.
The takeaway: This type of media targeting is both attracting more brand spend into local markets and challenging physically local media to compete for those ad dollars.*
This is the latest in BIA/Kelsey’s weekly LCR Bytes Series. Pulled from the BIA/Kelsey forecasting database of paid media spending targeting local audiences, LCR Bytes highlight slices of advertising spending in various U.S. markets.
*We’ll explore the trends around brand to local marketing in great depth at our BRANDS: Brand to Local Marketing conference, March 22nd in New York.