U.S. local media revenue is expected to boost more than 50 percent in the next four years and reach $8.2 billion in 2015 from $5.1 billion in 2010, according to a latest forecast by media research company BIA/Kelsey.
BIA/Kelsey stated local search overall will contribute 30 percent of all search volume by 2015, Media Post reported.
According to other media analysts, with the help of big search engines, local search revenue could greatly benefit local TV and radio.
“Local search ad revenues hit an all-time high last year, driven primarily by better product integration across search engines, especially Google,” said Matt Booth, senior vice president and program director of BIA/Kelsey’s Interactive Local Media practice.
“Revenues will continue to grow as better targeting, increased mobile usage and improving integration drive up local search activity,” he added.
BIA/Kelsey earlier projected that local search will reach $8.1 billion in 2013, with overall search revenues hitting $26.7 billion. Local search revenue was estimated to account for 23.6 percent of all search revenue, Media Post reported.