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Local Online Ad Spending to Grow 48% This Year

The 2008 Outlook: Local Online Advertising report released by Borrell Associates projects that local online advertising will grow 48% to 12.6 billion this year. "Local search advertising will more than double to $5 billion, while locally produced online video advertising will triple to almost $1.3 billion."

The report also concludes that while yellow page publishers, cable companies, newspapers and broadcasters are "still pinning their hopes on their traditional sales reps being able to sell online ad packages. But there's increasing evidence to support the idea that a greater investment in an independent online sales force will necessary to continue the growth these properties have enjoyed for the past few years." The report also indicates traditional media companies are loosing market share to to "pure-play internet companies."

posted by Mike Freedman @ 8:44 AM