Everyone knows that local online ads haven’t really taken off yet, but will one day. But no one agrees about what that means, or when it will happen.
In a new report summarized on Searchengineland, Jupiter Research predicts the local online ad market, loosely defined as display, search and classifieds, will hit $8.9 billion in 2012, with search contributing $2.5 billion to that total.
In December, Borrell Associates issued a local online ad projection, including video and “local banners,” that predicted the local online market would hit $12.8 billion in 2008, with local search contributing $5 billion.
But Veronis Suhler Stevenson says local search was already worth $8.4 billion in 2007 and will grow to $19.2 billion in 2011. The investment bank included $6 billion in online yellow pages spending in their projection.
Translation: Either no one has a clue, or everyone defines “local online advertising” differently. On complicating factor we can think of: Advances in targeting could reclassify a lot of mass-advertising as “local”. Anyone else want to hazard a guess?
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