Local broadcasters say their Web sites are becoming pretty good businesses, after all. Ad revenue for local TV Web sites grew 70% in 2007 and will jump another 45% in 2008, according to Borrell Associates. That’s a pretty big jump considering overall U.S. online advertising is expected to grow around 20% in 2008, depending on what analysis you believe.
Of course, it’s easy to register big increases when you’re starting from tiny base: Borrell says 534 stations sold $772 million in digital ads last year, and will take in $1.1 billion in 2008. We’d be curious to learn how much of that comes from ads the stations have sold themselves, vs. networks and/or Google.
So far this looks like a battle for dollars amongst old media. Borrell claims the online marketshare points won by local TV came at the expense of local newspapers.