Local broadcast television revenues dipped 7.8% in 2011, reports BIA/Kelsey, due to a listless economy and the odd year election cycle. Stations grabbed $17.9 billion in over-the-air revenues, down from election year 2010's $19.4 billion.
In 2012, stations' combined over-the-air and online revenues are forecasted to rise to $20.3 billion, based on political spending, improved consumer spending and growth in online ads. The number dips down to $19.1 billion in 2013.
"Advertising income for local television is trending upward and showing signs of rebound, with a good first quarter for many public television companies," said Mark Fratrik, Ph.D., vice president and chief economist, BIA/Kelsey. "Still, the 2012 over-the-air television advertising market is not what it was 11 years ago."
The research firm cites the emergence of newer media, such as mobile, in chipping away at traditional media's revenue take.
BIA/Kelsey features its findings in its new Investing in Television Market Report.
Online is growing dramatically, it reports. In 2011 local television stations earned $535 million from online sources, an 18.7% jump over 2010.
The local TV industry saw an uptick in transactions in 2011 over 2010, with 50 station sales totaling $1.1 billion, says BIA/Kelsey.