Local Media Consortium Releases 2022 Member Economic Impact Report
NEW YORK, May 26, 2022 /PRNewswire/ -- The Local Media Consortium, a strategic alliance of local media companies, today announced the release of its second annual member economic impact report, which quantifies how its strength-in-numbers business model helps local newspapers, broadcasters and online outlets maximize digital cost savings and increase revenue for long-term sustainability through strategic partnerships with digital platforms and service providers.
- The report finds year-over-year gains in each of the economic impact report metrics, including a 21% increase in cumulative revenue and cost savings, and a 34% increase in member engagements with the LMC's 30 partners .
- "The Local Media Consortium was created to help the local media industry coalesce to minimize costs, maximize digital revenue and strengthen their means to serve an important community need," said Fran Wills, CEO of the LMC.
- The LMC's member economic impact report finds that in 2021 ad serving with Google Ad Manager delivered the highest expense savings and significant programmatic advertising growth for members.
- The Local Media Consortium delivers economic value through strategic partnerships on behalf of more than 100 local media companies in top markets across the United States, Canada, and Puerto Rico, and includes more than 5,000 newspaper, radio, TV and online only news outlets.