For decades, local media owned local advertising. Today, location data and digital targeting are changing the rules.

On Episode 14 of In the Vicinity, Tim Hanlon welcomes Luke Stillman, Managing Director at Madison & Wall, to discuss why location data has become a scale advantage, how Google, Meta, Amazon, and streaming platforms are siphoning dollars away from traditional local media, and why broadcasters face increasing pressure to rethink their role.

They explore why scaling through consolidation may not be enough, how regulation is inadvertently strengthening walled gardens, and what local television and radio companies can do to remain relevant in an era where advertisers care less about DMAs and more about business outcomes.

Can local media compete with the tech giants—or must it learn to complement them?