March 23rd, 2011

Web Ads to Draw Nearly 25% of Local Spend by 2015

ClickZ

Online advertising by local businesses will account for almost a quarter of all local ad spend by 2015, says local media research and consulting firm BIA/Kelsey. The company’s new U.S. Local Media Forecast points to channels such as daily deals offers as increasingly popular with consumers, and thus a market ripe for local advertising dollars.

According to BIA/Kelsey, local online ad spending by small and medium-sized businesses will represent 23.6 percent of all local ad spending by 2015, growing from $21.7 billion last year to $42.5 billion by 2015. The economic downturn has tempered the company’s predictions, previously more bullish. Back in 2006, the firm predicted local search and online classified spending alone would hit $31.1 billion in 2010.

BIA/Kelsey suggested maturing online ad products, increased usage of smartphones and tablet devices, and continued disruption of traditional newspaper models are driving momentum for local online ad spending.

Read more: http://www.clickz.com/clickz/stats/2035870/web-ads-draw-nearly-local-spend-2015

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