Education to Spend $1.66 Billion on Local Advertising in 2020
Local businesses in Education believe in traditional media; over three quarters of their ad spend goes to traditional media. TV has the largest share of the traditional spend (21 percent). BIA’s Education vertical is made up of local businesses including colleges and universities, business and trade schools, and other schools along with education support services (tutors, test prep, etc.).
Of the $1.66 billion spent by education businesses, digital media is slowly growing in use. In 2019, $365.7 million (21.7 percent) of Education paid media was digital. In 2020, the digital spend will increase to $391.6 billion (23.6 percent of all paid media).
The biggest gainers of ad dollars are Mobile ($15.8 million) and Online ($4.2 million). TV OTT is a top share gainer, and it will account for nearly as much dollar growth as the online category with $3.8 million of the absolute growth in 2020. While traditional gets the lion’s share of educational ad spend, it’s share is declining from 2019-2020.
When looking at the share of ad dollars across broadcast media, over-the-air radio will face more of a decline (-5.7 percent) in 2019-2020 Education spending than over-the-air TV (-4.5 percent). TV online ad spending (2.2 percent) will grow a bit while Radio Online spending (-4.1 percent) will decline.
BIA’s newly released “Insights into Local Advertising – Education Vertical” report also discusses strategies local media sellers might adopt to become better marketing partners with their current and prospective financial clients.
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