BIAKelsey: Local Search Ad Revenues at $8.2 Billion by 2015
BIA/Kelsey predicts local search advertising revenues will increase from $5.1 billion in 2010 to $8.2 billion by 2015, representing a compound annual growth rate of 10 percent. By 2015, the firm expects 30 percent of search volume will be local in nature.
“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.”
BIA recently predicted that social media ad spending would reach $8.3 billion by 2014, representing a 30.4 percent CAGR.