Search Engine Land quotes a Borrell Associates study of local online ad sales projections for the upcoming year.
"Local search is expected to grow from roughly $2.5 billion currently to $5 billion in 2008. Borrell expects local video to roughly triple from just over $400 million today to $1.27 million next year".
Other highlights from the Borrell Report;
- The three largest categories are Autos, Jobs and Real Estate.
- Dramatic rise in video for local business.
- Average local business spend was $299 "per location" in 2007. (Range, $18,000 high end to about $100 low end).
- Independent online ad specialists will be in high demand.