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NAICS Code 541830-02 Description (8-Digit)

Media Buying Service is a type of business activity that involves the procurement of advertising space and time on behalf of clients. Media buying agencies act as intermediaries between advertisers and media outlets, negotiating rates and placements for various types of media such as television, radio, print, and digital. Media buying services help clients to reach their target audience by strategically placing ads in the most effective media channels.

Hierarchy Navigation for NAICS Code 541830-02

Parent Code (less specific)

Tools

Tools commonly used in the Media Buying Service industry for day-to-day tasks and operations.

  • Media planning software
  • Ad serving platforms
  • Programmatic advertising platforms
  • Data management platforms
  • Ad verification tools
  • Social media management tools
  • Analytics and reporting tools
  • Creative production tools
  • CRM software
  • Email marketing platforms

Industry Examples of Media Buying Service

Common products and services typical of NAICS Code 541830-02, illustrating the main business activities and contributions to the market.

  • Television advertising
  • Radio advertising
  • Print advertising
  • Digital advertising
  • Out-of-home advertising
  • Social media advertising
  • Mobile advertising
  • Video advertising
  • Native advertising
  • Influencer marketing

Certifications, Compliance and Licenses for NAICS Code 541830-02 - Media Buying Service

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

  • Federal Communications Commission (FCC) License: Media Buying Services that purchase broadcast media must obtain a license from the FCC. This license is required to ensure that the media buying service is operating within the guidelines set forth by the FCC. The FCC provides more information on the licensing process on their website:
  • Advertising Self-Regulatory Council (ASRC) Membership: The ASRC is a self-regulatory organization that promotes truth and accuracy in advertising. Media Buying Services can become members of the ASRC to demonstrate their commitment to ethical advertising practices. More information on ASRC membership can be found on their website:
  • National Association Of Broadcasters (NAB) Membership: The NAB is a trade association that represents the interests of broadcasters in the United States. Media Buying Services can become members of the NAB to stay up-to-date on industry news and trends. More information on NAB membership can be found on their website:
  • American Association Of Advertising Agencies (4A's) Membership: The 4A's is a trade association that represents advertising agencies in the United States. Media Buying Services can become members of the 4A's to stay up-to-date on industry news and trends. More information on 4A's membership can be found on their website:
  • Certified Advertising Specialist (CAS) Certification: The CAS certification is offered by the Promotional Products Association International (PPAI) and demonstrates expertise in advertising and promotional products. Media Buying Services can obtain this certification to demonstrate their knowledge of the industry. More information on the CAS certification can be found on the PPAI website:

History

A concise historical narrative of NAICS Code 541830-02 covering global milestones and recent developments within the United States.

  • Media buying services have been around since the early days of advertising, with the first media buying agency, N.W. Ayer & Son, established in 1869. The industry has since evolved with the introduction of new media channels such as radio, television, and the internet. Notable advancements include the development of programmatic advertising, which uses algorithms to automate the buying and selling of ad inventory, and the rise of social media advertising. In recent years, media buying services have also been impacted by the increasing use of ad blockers and the growing importance of data privacy regulations. In the United States, media buying services have a more recent history, with the industry experiencing significant growth in the 1980s and 1990s. This growth was driven by the increasing complexity of media buying, as new channels and technologies emerged, and the need for specialized expertise. The rise of digital advertising in the 2000s further transformed the industry, with media buying services adapting to the new landscape. Today, media buying services continue to play a crucial role in helping businesses reach their target audiences across a wide range of media channels.

Future Outlook for Media Buying Service

The anticipated future trajectory of the NAICS 541830-02 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

  • Growth Prediction: Stable

    The Media Buying Service industry in the USA is expected to continue growing in the coming years due to the increasing demand for digital advertising. The rise of social media platforms and the shift towards online advertising has led to a surge in demand for media buying services. Additionally, the industry is expected to benefit from the growing trend of programmatic advertising, which uses algorithms to automate the buying and selling of ad inventory. However, the industry may face challenges from the increasing use of ad-blockers and the growing concern over data privacy. Overall, the industry is expected to continue growing at a steady pace in the coming years.

Industry Innovations for NAICS Code 541830-02

Recent groundbreaking advancements and milestones in the Media Buying Service industry, reflecting notable innovations that have reshaped its landscape.

  • Programmatic Advertising: The use of algorithms to automate the buying and selling of ad inventory has revolutionized the media buying industry, making it more efficient and cost-effective.
  • Advanced Targeting Capabilities: Media buying services are now able to target specific audiences based on demographics, interests, and behaviors, allowing for more effective advertising campaigns.
  • Cross-Device Tracking: The ability to track users across multiple devices has allowed media buying services to deliver more personalized and targeted advertising.
  • Real-Time Bidding: Real-time bidding allows media buying services to bid on ad inventory in real-time, allowing for more efficient and effective ad buying.
  • Native Advertising: Native advertising has become increasingly popular in recent years, allowing advertisers to seamlessly integrate their ads into the content of a website or app.
  • Video Advertising: The rise of video content has led to an increase in video advertising, with media buying services now able to target users based on their video viewing habits.
  • Mobile Advertising: The increasing use of mobile devices has led to a surge in mobile advertising, with media buying services now able to target users based on their location and device type.
  • Social Media Advertising: The rise of social media platforms has led to a surge in social media advertising, with media buying services now able to target users based on their social media activity.
  • Influencer Marketing: Influencer marketing has become increasingly popular in recent years, with media buying services now able to connect brands with influencers to promote their products or services.
  • Artificial Intelligence: The use of artificial intelligence has allowed media buying services to automate many of their processes, making them more efficient and effective.

NAICS Code 541830-02 - Media Buying Service

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