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Local Online Advertising To Hit $14.9 Billion
Smaller local advertisers continue to increase their spending on online media, a trend that should continue into 2010, according to a new report from local-media research firm Borrell Associates.
Borrell's report "2010 Outlook: Local Interactive Advertising," points to a number of companies driving the growth. At the top of the list is Yodle, which is on a path to triple its revenues, to about $75 million this year. Others at the top include Yellbook, which is on track to nearly double its revenues to nearly $400 million, and Local.com, growing 34 percent, to about $50 million.
"It's definitely a year when we see growth only for those operations that have fine-tuned their products and sales strategies to the exact needs of the local marketplace," said Peter Conti Jr., executive vice president of Borrell.
Overall, the report forecasts that local online advertising will grow about 11 percent this year, to $14.4 billion, and will see slower growth in 2010. Borrell says the five-year compound annual growth rate (CAGR) for local online advertising in the U.S. will be 2.9 percent, compared with 46.5 percent growth over the last five years.
"We're not expecting growth to get out of the single digits next year," said Kip Cassino, vice president of research for Borrell.
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