Report: OOH, Outdoor Score Largest Ad Budgets In 2024

A December Borrell survey of local ad buyers revealed their 2024 media preferences.

The top categories for media buying were events sponsorships, social media and website ads. Radio came in at No. 7, after magazines and newspapers.

The medium that had the biggest average ad budget was OOH and outdoor advertising, which totaled $54,400. Other ad options with sizable budgets included streaming video, with a $44,600 average.

The survey reported local AM/FM stations received three times the money spent on streaming audio services. One in three local businesses says they bought radio in 2024, and the same number also rate AM/FM as either “extremely” or “very” effective. Among the 11% that used streaming audio ads, 18% of local buyers gave it high marks for effectiveness.

Borrell also found 38% of local advertisers targeted magazine ads this year, while 35% spent on newspapers.