Expect local television and radio revenues to continue their contraction until next year and then inch up for the next three years. All this will occur as local digital revenues will steadily and sharply rise. Media forecaster BIA/Kelsey says local advertising revenues for television and radio will reach $34.3 billion in 2014, up from $29.9 billion in 2009. BIA/Kelsey says spending on traditional media will decline from $115 billion in 2009 to $108.2 billion in 2014 -- an average loss per year of 1.2%. During the same period, spending on online/interactive media is projected to grow from $15.2 billion to $36.7 billion -- a gain of 19.3% annual average growth rate.
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