Local Online Advertising to Grow 31.6% in '07...
Nearly 25 percent of the local media websites in the Borrell survey were on track to generate more than $1 million in gross revenues this year; and 6.6 percent of them are forecast to generate more than $10 million, the research firm said.
According to Borrell's findings:
- Newspapers account for the dominant share of all locally spent online advertising: 35.9 percent
- Pure-play internet companies (Google, Yahoo, Monster, etc.) are right behind with 33.2 percent
- Yellow pages operators control 11.7 percent
- Other Print (e.g., Homes & Land and other local magazines), 9.2 percent
- TV stations, 7.7 percent
- Radio stations, 2.2 percent.
Pursuing non-traditional advertisers is becoming the route to growth, according to the report: "The number of locally based online-only salespeople grew 26 percent in 2006. Budgeted figures for 2007 anticipate an additional 35 percent increase in hiring this year." Read More...